Dilip Buildcon share price rallied as much as 10% on NSE in Thursday's trading session after the company bagged a new order worth ₹1,800 crore from Petroleum and Natural Gas Regulatory Board.
Dilip Buildcon shares opened at ₹429 apiece today, as compared to previous close of ₹393 on Wednesday. The stock touched an intraday high of ₹439.70 on 10 September.
The stock has remained under pressure amid weak market sentiment, declining 6% over the past month and 12% year-to-date (YTD). Over the longer term, the stock has gained 25% over the past three years but has declined 19% over a five-year period.
In an exchange filing on 9 September, Dilip Buildcon said that it has received a Letter of Intent (LoI) authorising it to lay, build, operate or expand an LPG pipeline connecting Paradip in Odisha with Raipur in Chhattisgarh.
According to the filing, the project is worth around ₹1,800 crore.