Dilip Buildcon’s JV receives LoA for coal mines project

An infrastructure development company, majorly a road and highway development company, Dilip Buildcon (DBL), has received letter of award (LOA) from Northern Coalfields Limited.

Jan 20, 2017 01:01 IST India Infoline News Service

Construction
An infrastructure development company, majorly a road and highway development company, Dilip Buildcon (DBL), has received letter of award (LOA) from Northern Coalfields Limited.

This has been received by DBL-DECO (JV) for the project of "Coal Mines" at NIGAHI, for excavation of overburden of first dig (solid) & re-handling by mechanical means at specified places at NIGAHI OCP of NCL. 
The project is valued at Rs 1673.58 crore with a weighted average lead of 5.68 km and an estimated quantity of 132460000 BCM.
DBL is into infrastructure development on an engineering procurement and construction (EPC) basis. 
The stock of DBL has been trading in consolidation since last 7 trading sessions, and has closed exactly at its 200 days EMA on January 20, 2017. It is likely to remain in focus on January 23's session.
Stock view:-

Dilip Buildcon Ltd is currently trading at Rs 235.75, down by Rs 4.95 or 2.06% from its previous closing of Rs 240.7 on the BSE.

The scrip opened at Rs 241 and has touched a high and low of Rs 242.9 and Rs 235.75 respectively. So far 45198(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 3292.05 crore.

The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 261.9 on 01-Dec-2016 and a 52 week low of Rs 178.6 on 09-Nov-2016. Last one week high and low of the scrip stood at Rs 246.55 and Rs 234.15 respectively.

The promoters holding in the company stood at 75.63 % while Institutions and Non-Institutions held 18.18 % and 6.19 % respectively.

The stock is currently trading above its 100 DMA.

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