On the morning of November 22, Dilip Buildcon witnessed a significant uptick of around 2% in its shares after India Ratings revised its outlook on the civil construction company from “negative” to “positive”. The agency also maintained its long-term issuer ratings on both fund-based and non-fund-based instruments at “IND A”.
The positive outlook revision is reflective of Dilip Buildcon’s enhanced leverage and interest coverage ratio during the first half of FY24, aligning with the agency’s optimistic expectations for the company’s credit metrics.
As of 12:26 pm, the shares continued their positive momentum, trading 0.70% higher at ₹425.00. This upward movement underscores the market’s favorable response to the improved outlook and the agency’s confidence in Dilip Buildcon’s creditworthiness.
