Not a good sign especially just before annual results.
Today the share has cracked by more than 4% and share has finally trading below the crucial level of 1100.
Also there is a NEWS that promoters have further increased pledging of shares.But this seems natural as company has won many orders recently and so there is good capital requirements.This is my view.
Opinions of others is welcome.
The results of Dilip Buildcon is expected on 29th of May18. Topline is expected to be 7500 Crores and EPS is expected to be 50.
Some component of early completion bonus would aid bottom line.Also cash flow from Shrem Group deal was expected in Q4 FY18.This cash flow would reduce the interests cost in Q1 FY19 onwards.
Dilip Buildcon has broken the resistance of 1100 and is currently trading below 1100.Similar correction can be seen in KNR Constructions chart. I understand this sharp corrections are because Mutual Funds are re-aligning their portfolios as SEBI deadline of 31st May 2018 looms.Comments invited.