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Dilip Buildcon looks up on Bhopal Metro order

The project work is valued at Rs 247.06 crore.

ETMarkets.com|
Last Updated: Aug 21, 2018, 10.55 AM IST
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Earlier, the company on August 2 said it has been declared as the lowest bidder for a Rs 717.45 crore mining project in Madhya Pradesh.
Dilip Buildcon (DBL) pushed ahead on the news that it has been selected as the lowest bidder for phase-I of Bhopal Metro rail project.

The project work is valued at Rs 247.06 crore.

The project involves design and construction of elevated viaduct of length 6.2 km between AIIMS and Subhash Nagar -- excluding stations and including entry and exit.

The scrip hit a low of 850.50 during the day on Tuesday, but recovered as much as 0.84 per cent to Rs 861.30.

Earlier, the company on August 2 said it has been declared as the lowest bidder for a Rs 717.45 crore mining project in Madhya Pradesh.

DBL has been declared the lowest bidder for a new overburden removal contract mining project valued at Rs 717.45 crore by Northern Coalfield Ltd (NCL), a subsidiary of Coal India, in Madhya Pradesh (MP), Dilip Buildcon said in a BSE filing.

Brokerage firm HDFC Securities has ‘Buy’ rating on Dilip Buildcon with a target price of Rs 1,434.

“With noise around DBL’s auditors fading out, DBL admits that its core competence lies in EPC and it will continue to focus on getting out of HAM (hybrid annuity model) projects once executed. NWC (net working capital) days have improved to 85 versus 89 days QoQ. We maintain ‘Buy’ on Dilip Buildcon,” the brokerage house said in a report.

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