Dilip Buildcon Limited (DBL) saw its stock price surge today following the announcement of a significant project win in Kerala. As of 12:04 PM, the company’s shares were trading at ₹572.80 on the National Stock Exchange (NSE), up 3.84% or ₹21.20 from the previous close.
The company informed the stock exchanges on September 5, 2024, that it has been declared the L-1 (lowest) bidder for a significant infrastructure project in Kerala. The project, floated by the Konkan Railway Corporation Ltd., involves the construction of a twin tube unidirectional tunnel with two lanes in each traffic direction in the Kozhikode and Wayanad districts of Kerala.
The scope of work includes a four-lane approach road for direct connectivity between Anakkampoyil – Kalladi – Meppadi from Km 0.460 to Km 8.735. The total project length is 8.275 km, and it is to be executed on an Engineering, Procurement & Construction (EPC) basis.
The bid project cost, including GST, is ₹1,341 crore, with a completion period of 48 months. This win strengthens Dilip Buildcon’s order book and underscores its capabilities in handling complex infrastructure projects.
In light of this development, the company has also announced the closure of the trading window for insiders, designated persons, and their immediate relatives for 48 hours from the time this information is made public, in compliance with SEBI regulations on insider trading.
The positive market reaction to this news reflects investor confidence in Dilip Buildcon’s growth prospects and its ability to secure and execute large-scale infrastructure projects. Analysts will likely be watching closely to see how this project contributes to the company’s future revenue and profitability.
