Stock Report

Dilip Buildcon Limited appointed as mine developer through SC order

Posted On : 2021-09-23 22:46:05( TIMEZONE : IST )

The Hon'ble Supreme Court of India vide judgement dated 21.09.2021 has in effect confirmed appointment of Dilip Buildcon Limited (DBL) & VPR Mining Infrastructure Private Limited (VPR), as the Mine Developer Cum Operator, by Punjab State Power Corporation Limited at the Pachhwara Central Coal Block Mine. The total contract value of the tender is Rs. 32,156.04 Crores (excluding taxes).

Thus, as the result of the said judgement, DBL-VPR Consortium has been conferred with the absolute rights to undertake the mining developer cum operator works at the Pachhwara Central Coal Block mine.

The Pachhwara Central Coal Block located in Pakur District of Jharkhand, was reserved for Power Sector End Use and was allotted to Punjab State Power Corporation Limited for its captive utilization. The mineable reserve of the block is 382.1 Million Metric Tons which was to be exploited over a period of 55 years by selection and appointsnent of Mine Developer Cum Operator through competitive bidding process for the development and operations of Pachhwara Central Coal Mines. DBL & VPR formed a consortium to participate in the tender process. The consortium of DBL ard VPR emerged as L1 Bidder in the Reverse Auction conducted by PSPCL and consequendy Letter of Award was issued in its favour.

Shares of Dilip Buildcon Limited was last trading in BSE at Rs. 554 as compared to the previous close of Rs. 518.65. The total number of shares traded during the day was 41365 in over 1460 trades.

The stock hit an intraday high of Rs. 559.75 and intraday low of 521.4. The net turnover during the day was Rs. 22290162.

Source : Equity Bulls