There was a sell-off in the Indian stock market on Wednesday. In this environment too, there was a tremendous rise in the stock of some companies. One such rally came in the stock of Dilip Buildcon.
During the business, the share price of construction-related Dilip Buildcon rose up to 7 per cent. At one point, the stock went up to a price of Rs 285.60. However, due to profit-booking, the share price stood at Rs 272.90 at the end of trading. There was an increase of 2.71 percent compared to a day earlier.
What is the reason: Actually, Dilip Buildcon has received an order for a project from the National Highways Authority of India (NHAI) in Jharkhand. This project is worth Rs 976 crore. Due to this, the purchase of shares of the company increased.
Read this-Share of ICICI Bank will cross 1000 rupees, expert said in one voice – buy
In the third quarter of the last financial year, Dilip Buildcon reported a loss of Rs 19.16 crore. There was a profit of Rs 107.17 crore in the same quarter a year ago. Operating profit and sales also declined. Let us tell you that Dilip Buildcon is a construction company. Apart from highway and rail projects, this company takes construction contracts across the country.