Dilip Buildcon shares rallied 11.88% in early trade on Thursday, hitting a day’s high of Rs 439 on the NSE, after the company received a letter of intent (LOI) to lay, build, operate or expand an LPG pipeline from Paradip in Odisha to Raipur in Chhattisgarh.
According to a filing with the exchange, the company said that the Project Authority is Petroleum and Natural Gas Regulatory Board (PNGRB) and this project entails the grant of an exclusive license by PNGRB to act as the authorized entity for the development of “pipeline” infrastructure for the transportation of LPG, including financing, construction, and operation of the same, and to levy and collect tariff for the transportation of LPG up to the designated delivery point.
