Shares of Dilip Buildcon (DBL) gained 3.5% on the BSE in the morning trade. The company has been awarded OB Removal Contract Mining work for Nigahi Project at Singrauli District in Madhya Pradesh valued at Rs2,122.74cr (including GST) by the Northern Coalfield Limited (NCL), a subsidiary of Coal India and issued Letter of Award (LOA) on November 18, 2019.
The company having been declared L1 bidder in the reverse auction conducted by Northern Coalfields Limited (NCL), a subsidiary of Coal India on September 25, 2019, has been issued Letter of Award (LOA) on November 18 for Removal of Overburden at Nigahi OCP, Singrauli Area in Madhya Pradesh, the company said in the filing.
The Provisional Completion Certificate has been issued by the authority and has declared the project fit for entry into operation as on November 18, 2019, and completed 184 days prior to the scheduled completion date of the said Project, the company said.
Dilip Buildcon Ltd is currently trading at Rs418.95, up by Rs15.05 or 3.73% from its previous closing of Rs403.90 on the BSE.
The scrip opened at Rs406.30 and has touched a high and low of Rs423 and Rs404.25 respectively.
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