Shares of Dilip Buildcon spurted in Tuesday's intraday trade to hit 20% upper circuit. The upswing in the construction related stock comes amid spurt in volume and on the back of revision in credit ratings for bank facilities from CARE Ratings.  

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"We would like to inform you that the Company has received ratings letter dated March 31, 2022 from CARE Ratings for bank facilities," read a regulatory filing form Dilip Buildcon Ltd on April 2.  

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As per the corporate filing by Dilip Buildcon, Credit ratings for bank facilities and NCDs from CARE Ratings are: Long term bank facilities (Rs 1940 crore) - CARE A-; Stable (revised from CARE A; Stable) 

Long term/ short term bank facilities (Rs 4500 crore) - CARE A-; Stable / CARE A2+ (revised from CARE A; Stable/ CARE A1). Non-convertible debentures (Rs 300 crore) - CARE A; Stable (revised from CARE A; Stable) 

At 11.30 am, this construction stock was locked in 20% upper circuit to Rs 302.10 per share on the BSE. The scrip has been largely dormant for the past one year and has traded negatively. The stock gave a negative return of around 29% in 3 months, 49% in six months and 47% in the last one year. The stock is still trading 148% lower from its 52-week high value of Rs 749.30 per share on the BSE. The shares touched a 52-week low of Rs 233.80 on March 29.  

Established in 1987, Dilip Buildcon Limited is a construction and infrastructure development company headquartered at Bhopal, Madhya Pradesh.