Shares of Dilip Buildcon Ltd (DBL) rallied 6% on 30 October after the company announced that it had been awarded a Rs 307.08 crore contract. 

In its regulatory filing, the company announced that it has been awarded a sub-contract worth Rs 307 crore, including GST, for the “Development of Barpali loading bulb at Kusara” under the jurisdiction of the Deputy Chief Engineer (Construction), Jharsuguda, Chakradharpur Division, South Eastern Railway.

ISC Projects Private Ltd, a domestic organisation, won the subcontract, which will be carried out over a 24-month term on an item rate basis. The scope of work includes the composite execution of earthwork by filling and cutting, blanketing, the construction of small bridges, side drains, central drains, catch water drains, protective works, and permanent way track connection.

It also includes the transportation of P.W. materials, the supply of ballast, the construction of service buildings, goomties, workshop sheds for C&W examination lines, heavy repair sheds, a proposed bogie shop, stores with shed, road work, circulating area, abrasion-resistant granolithic concrete flooring, ballastless track beams, GDR pathway work, structural steel work, and metalising work.

Dilip Buildcon clarified that its promoters or promoter group entities have no stake in the awarding entity; therefore, the order does not constitute related party transactions.

At 11:53 am, the shares of Dilip Buildcon were trading 2.46% higher at Rs 494.50 on NSE.

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