The total equity valuation of the said five projects is expected to be Rs 702 crore on required equity (equity share capital and promoter's unsecured loan) of Rs 568 crore. READ MORE
At 12:32 am, the stock was trading over 9 per cent higher at Rs 420.45 apiece on the BSE. The counter witnessed spurt in volume by more than 4.09 times on the bourse.
A combined 9,09,182 shares changed hands on the BSE and NSE. In comparison, the S&P BSE Sensex was ruling over 223 points or 0.60 per cent higher at 37,205 levels.
On a year-to-date (YTD) basis, shares of Dilip Buildcon
have slipped 8 per cent while the benchmark S&P BSE Sensex has gained over 2.50 per cent.
has established itself as strong executioner though it has come at cost of balance sheet distress. Benefits of early completion bonus have not kept pace with high interest outgo on inventory built up," HDFC Securities had said in its report dated August 6.
The sale of five HAM assets is key for the stock's re-rating, the brokerage had said. "We maintain BUY with a cautious approach on debt built up, with the target price of Rs 720," it said.