Brokerages Recommend buy on Dilip Buildcon; Upside of 32%

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Brokerages Recommend buy on Dilip Buildcon; Upside of 32%
Credit: © Reuters.

By Aditya Raghunath -- Infrastructure company Dilip Buildcon Ltd (NS: DIBL ) has been proving its backers right, as its stock price has increased from Rs 325-Rs 350 levels from the first week of November to Rs 392.5 on December 11, an increase of around 15%.

Recommendations from six brokerages have given the company an average target of Rs 519.8, an upside of 32% from current levels.

Nirmal Bang has a target of Rs 441 for Dilip Buildcon while HDFC (NS: HDFC ) Securities has given it a target of Rs 793. IDBI(NS: IDBI ) Capital has said that the stock will reach Rs 536 in the next year. 

In November, the company reported its results for the second quarter ended September 30, 2020. It reported a 33.41% dip in net profit to Rs 17.18 crore from Rs 25.80 crore in the corresponding quarter in 2019.

Dilip Buildcon’s order book was at Rs 25,620.6 crore on September 30. Around 50.38% is made up of road and highway projects with the special bridge vertical contributing 8.84% and mining 12.26%, the company said. It added that 63.53% of the order book is from the central government and 36.47% of the order book is from state governments.

Dolat Capital had given the stock a target of Rs 410 and had said it should be looked at with a view to accumulating shares as a growth in bottomline is still two quarters away.

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  • Abhijit Rana @Abhijit Rana
    Very good information shared.
    Like 0

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