Dilip buildcon, edelweiss financial, mahanagar gas hit new highs

Dilip Buildcon, Edelweiss Financial, Mahanagar Gas hit new highs

STOCK MARKET - Dilip Buildcon (DBL), Edelweiss Financial Services, Mahanagar Gas (MGL) and Hindustan Unilever are 25 stocks from the S&P BSE 500 index that hit their respective record highs on the BSE in otherwise weak market.

The stock of DBL, engaged in roads & highways constructions business, surged 10% to Rs 594 on back of three-fold jump in trading volumes. The company will announce its April-June (Q1FY18) quarter results on Friday, August 11, 2017.

Thus far in the month of August, the stock has outperformed the market by gaining 18% as compared to 1% decline in the S&P BSE Sensex.

DBL delivered stellar performance in January-March (Q4FY17) quarter with net profit growth at 227% year-on-year (YoY), led by a pickup in execution, lower interest growth and high early completion bonus of Rs 80 crore.

Edelweiss Financial Services rallies 9% to Rs 250, extending its 7% gain in past four trading sessions, after reported a healthy set of numbers for Q1FY18. The company reported 41% YoY jump in net profit at Rs 196 crore in June quarter. It had profit of Rs 140 crore in the same quarter year ago.

The asset quality of the overall credit book continued to remain under control with gross non-performing loans (NPLs) at 1.71% and Net NPLs at 0.61% during the quarter under review. Gross NPLs and net NPLs stood at 1.59% and 0.6%, respectively, at the end of March quarter.

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