Shares of Dilip Buildcon rose over 11 percent on Wednesday. The stock had gained over 16 percent in the previous day's trade. Dilip Buildcon shares have been witnessing an upward movement since 27 February when the company said it received a new order from the National Highways Authority of India.

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The stock surged as much as 11.5 percent intraday to Rs 579.70 per share on the NSE. At 10.54 AM, Dilip Buildcon shares 9.52 percent higher at Rs 569.10 per share

Dilip Buildcon received a hybrid annuity model (HAM) project from NHAI to develop a four-lane highway road (41.44 km) from Sangli to Solapur at a project cost of Rs 1,102.40 crore.

The construction period for this project is 24 months. In fact, going by the charts, the stock is very close in crossing its 200 DMA (day moving average) at Rs 608 per share.