Dilip Buildcon Shares Hit One-Month High On Winning Order Worth Rs 4,900 Crore

The shares of Dilip Buildcon Ltd. hit one-month high after it received an order worth Rs 4,900 crore form MPUVNL for 1,363.55 MW solar power plants in Madhya Pradesh.

The order is from Madhya Pradesh Urja Vikas Nigam Limited (MPUVNL) on behalf of Madhya Pradesh Power Management Company Ltd. (MPPMCL), the company said in an exchange filling. The order includes development, design, engineering, supply, construction, testing, commissioning, operation & maintenance of grid-connected solar PV power plants under PM KUSUM-C (Feeder Solarization) for sale of power to MPPMCL.

The period of the order is set at 25 years from scheduled commercial operation date.

Earlier this month, NALCO awarded the company a massive Rs 5,032 crore order for Pottangi Bauxite Mines.

It is a landmark order for the company, which will develop and operate the bauxite mines in Odisha.

The order has been split into two different components. The first phase will see Dilip Buildcon carry out an EPC contract of three years, with a total consideration of Rs 1,750 crore.

The second leg is a long‑duration mining contract valued at Rs 3,250 crore over the remaining 22 years for 77 million tonnes.

The scrip rose as much as 5.39% to Rs apiece on Monday, the highest level since Nov. 25. It pared losses to trade 4.07% higher at Rs 479.70 apiece, as of 11:08 a.m. This compares to a 0.63% advance in the NSE Nifty 50 Index.

It has risen 1.47% in the last 12 months. Total traded volume so far in the day stood at 0.94 times its 30-day average. The relative strength index was at 61.94.

Out of six analysts tracking the company, one maintain a 'buy' rating, four recommend a 'hold,' and one suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target stands at Rs 481.25 indicating an upside of 4.5%.