Dilip Buildcon gains 2%, Credit Suisse neutral with target Rs 840
Shares of Dilip Buildcon rose 2 percent intraday Wednesday on the back of strong Q2 numbers.
The company’s Q2 net profit increased manifold at Rs 115.6 crore against Rs 7 crore in the quarter ended June 2017, while it is down 5.7 percent on YoY basis.
The revenue has increased by 72.6 percent at Rs 1,582 crore against Rs 916.3 crore, QoQ.
The operating profit was up 83.5 percent at Rs 285.3 crore and EBITDA margin was at 18 percent.
Credit Suisse has maintained neutral rating on the stock with target raised to Rs 840 from Rs 770 per share.
The firm has raised FY18/FY19/FY20 EPS estimates by 18 percent / 12 percent / 8 percent. The key downside risks include delay in getting appointed dates for HAM projects, it added.
At 10:54 hrs Dilip Buildcon was quoting at Rs 856.80, down Rs 0.55, or 0.06 percent on the BSE.
Posted by Rakesh Patil