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Dilip Buildcon hits 52-week high; rises 13% in five days

February 23,2021  15:10

Shares of Dilip Buildcon have rallied 13.6% in five trading days from its previous closing low of Rs 554.6 on 16 February 2021. The counter hit a 52-week high of Rs 643 in intraday trade today. The stock is up 225.7% from its 52-week low of Rs 193.40 posted on 25 March 2020.

On the BSE, 18,317 shares were traded in the counter so far compared with average daily volumes of 35,517 shares in the past two weeks. The stock hit a high of Rs 643 and a low of Rs 625.9 so far during the day.

The stock had outperformed the market over the past one month, up nearly 50% compared with a 1.7% rise in the benchmark BSE Sensex.

On the technical front, the stock's RSI (relative strength index) stood at 84.323. The RSI oscillates between zero and 100. Traditionally the RSI is considered overbought when above 70 and oversold when below 30.

The stock is trading above its 50 and 100 days simple moving average placed at 446.84 and 398.86 respectively. These levels will act as crucial support zones in near term.

Dilip Buildcon (DBL) is one of the leading full-service infrastructure company with construction capabilities in roads & bridges, mining, water sanitation, sewage and dams with a presence in over 19 states.

The company's consolidated net profit jumped 106.27% to Rs 182.20 crore on 7.09% rise in revenue from operations to Rs 2,746.20 crore in Q3 FY21 over Q3 FY20.

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