Dilip Buildcon board to consider fund raising options

After the company announced that its board of directors would discuss alternatives for obtaining money at a meeting on November 7, shares of Dilip Buildcon Limited increased on November 3rd morning.

The stock has surged 78% during the past six months. Roads, bridges, transit lines, and tunnels are all constructed by infrastructure participant Dilip Buildcon.

The business has received several orders in the last few months. The Bhopal-based company inked a ₹396.93-crore project agreement with the Water Resources Zone, Udaipur, Rajasthan, in October.

The Narmada Gambhir Multi Village Drinking Water Supply Scheme in the Ujjain district of Madhya Pradesh was awarded to the company a month ago, along with a letter of acceptance (LOA) covering engineering, procurement, construction, testing, commissioning, trial run, operation, and maintenance. The total order value is ₹1,275.30 crore.

Early this year, the company was declared as the L-1 (lowest) bidder for a tender floated by the National Highways Authority of India on a hybrid annuity basis. The company will build a six-lane highway from Audireddipalle to Mallapalle under the Bharatmala Pariyojana Phase-I in Andhra Pradesh.