Shares of Dilip Buildcon (DBL) gained 4 percent intraday November 19 on receiving a Rs 2,100 crore order from country’s largest coal mining company Coal India.
“DBL has been awarded overburden removal contract mining work for Nigahi Project at Singrauli District in Madhya Pradesh by the Northern Coalfield Limited (NCL), a subsidiary of Coal India,” the construction company said in its BSE filing.
NCL issued Letter of Award (LOA) on November 18.
The company said the order was valued at Rs 2,122.74 crore and the contract period was 1,552 days.
The company was declared as L1 bidder in the reverse auction conducted by Northern Coalfields Limited (NCL), a subsidiary of Coal India Limited on September 29 this year.
Overburden removal quantity stood at 186.23 million BCM, the company said.
The stock was quoting at Rs 417.50, up Rs 13.60, or 3.37 percent on the BSE at 1013 hours IST.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
courtsey By – https://www.moneycontrol.com/news/buzzing-stocks/dilip-buildcon-share-price-jumps-4rs-2100-cr-ordercoal-india_13193301.html