Dilip Buildcon shares rally 12% on new LPG pipeline deal
Shares jumped after the company secured a letter of intent for an exclusive LPG pipeline project between Paradip and Raipur.
Dilip Buildcon shares surged 12% in early trading on Thursday, reaching a high of Rs 439 on the National Stock Exchange. The rally followed the company receiving a Letter of Intent (LOI) from the Petroleum and Natural Gas Regulatory Board to develop an LPG pipeline connecting Paradip in Odisha to Raipur in Chhattisgarh. Under this agreement, Dilip Buildcon holds an exclusive license to design, finance, construct, and operate the infrastructure up to the delivery point while collecting transportation tariffs. The venture will be executed through a Special Purpose Vehicle owned entirely by Dilip Buildcon with 100% equity participation. An operational phase of 25 years is planned, with construction scheduled to commence over three years.
