This realty stock gained by around 10 per cent intraday
Stocks in the realty sectors are recently seeing a buzz. On Thursday, the shares of Dilip Buildcon surged by nearly 10 per cent, making a fresh 52-week high after the company reported that it has received a new order.
The company has received a letter of acceptance (LoA) from Mahanadi Coalfields Limited (MCL) for mine developer-cum-operator (MDO) contract for the development and operation of Siarmal Open Cast Project in Sundergarh district of Odisha. According to the press release, the contract amounts to around Rs 36,819.07 crore, including GST. Besides, the period of the contract is of 25 years.
Dilip Buildcon Ltd is engaged in the business of infrastructure facilities on engineering procurement & construction (EPC) basis. It undertakes contracts from various government and other parties as well as special purpose vehicles promoted by the company itself and operate through construction & engineering contracts segment.
In a period of one month, the stock of Dilip Buildcon has jumped by more than 44 per cent while on a YTD basis, it has gained by around 77.8 per cent.
On Thursday, the stock of Dilip Buildcon closed at Rs 703.70 per share, up by 7.37 per cent or by Rs 48.30 per share.