Dilip Buildcon shares gain 9% after securing LoI for LPG pipeline project

As per the latest business developments, Dilip Buildcon shares rose 9 percent in the early session on September 10 after the firm emerged as the successful bidder for a Letter of Intent (LoI) for the grant of authorisation to lay, build, operate or expand an LPG pipeline from Paradip in Odisha to Raipur in Chhattisgarh.

At 09:17am, Dilip Buildcon was quoting at Rs 428.80, up Rs 35.80, or 9.11 percent, on the BSE.

The project authority is the Petroleum and Natural Gas Regulatory Board (PNGRB).

Under the project, PNGRB will grant Dilip Buildcon an exclusive licence to develop the LPG pipeline infrastructure, including its financing, construction and operation, and to levy and collect transportation tariffs.

The proposed project will have a construction period of three years, followed by an operating period of 25 years.

Under the project, Dilip Buildcon will undertake the design, financing, development, construction, operation and maintenance of the LPG pipeline infrastructure, subject to applicable approvals and regulatory requirements of PNGRB.

The proposed pipeline is anticipated to facilitate the transportation of LPG to bottling plants of various oil marketing firms (OMCs), with the aim of replacing existing road-based transportation through LPG tankers and improving road safety.

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The 20th Annual General Meeting (AGM) of the Firm to be held on Tuesday, September 22, 2026, at 11.00 a.m. through Video Conferencing / Other Audio Visual Means.

The firm had noted 50.7% decline in its Q1 earnings to Rs 113 crore from Rs 229 crore, while topline eased 9.3% to Rs 2,377.8 crore from Rs 2,620.3 crore.

In the previous market session, the share closed at Rs 392.45, down Rs 1.15, or 0.29 percent.

The share touched a 52-week high of Rs 587.90 and a 52-week low of Rs 381.75 on 24 September, 2025 and 24 July, 2026, respectively.

At present, the stock is trading 33.25 percent below its 52-week high and 2.8 percent above its 52-week low.

The market capitalisation of the firm stands at Rs 6,375.15 crore.