Shares of Dilip Buildcon rallied 2.7 percent intraday on August 28 after the company received Provisional Completion Certificate for the road project in Andhra Pradesh.
The stock gained nearly 14 percent in the last three days after falling more than 50 percent in the last one year. It was quoting at Rs 382.85, up Rs 5.90, or 1.57 percent on the BSE at 1000 hours.
The road project company informed exchanges that its project of rehabilitation and up-gradation of Eeppurupalem - Ongole section of NH-214A (new NH-216) to two-lane with a paved shoulder in Andhra Pradesh under NHDP -IV on EPC basis has been provisionally completed.
The Provisional Completion Certificate was issued by the authority on August 17. As on July 20, the project was declared fit for operation.
The road project was worth Rs 350.01 crore. The appointed date for same was July 20, 2017 and the scheduled completion date was July 20, 2019.
Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
