BUY - DILIP BUILDCON LTD CMP - Rs. 168 Target - 1: Rs. 305 Target - 2: Rs. 389 Target - 3: Rs. 526 . . Technicals - 1) Bullish Harmonic Pattern - Navarro 200. 2) Targets set using Fibonacci Retracements. . . Fundamentals - 1) The stock emerged to be the lowest bidder for a highway project worth INR 7.8 Billion. This may be justified by the fall in quarterly profits or the lack of funds required for taking on the project.
2) However, their annual profits have been consistently rising, and the new Budget for FY 2023-24 supports infrastructure companies, indicating a rise in profits. . . Follow me for more!
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Target - 1 achieved, DILIP BUILDCON posts a 121% rise in profit in Q1-FY24