Ahluwalia contracts surges on ₹572 Crore order win

5 Jul 2024 , 03:18 PM

Shares of Ahluwalia Contracts (India) surged 18% in today’s intraday trading session, hitting a new all-time high of ₹1,542 apiece. The surge followed the announcement of a substantial ₹572 crore construction order from the Airports Authority of India.

At the time of writing on July 5, 2024 at 3:12 pm, shares of Ahluwalia is currently trading at ₹1475.85 which is a 12.96% gain than the previous close. The stock has gained a total of 119% in the last one year, and 87% since the beginning of the year.

The order involves the construction of a new terminal building, allied structures, and external development works under the Engineering Procurement and Construction (EPC) model.

This is the company’s second major order win in just over a month. On June 10, it secured a ₹98.80 crore order from Indian Financial Technology and Allied Services for MEP work at the Enterprise Computing and Cybersecurity Training Institute in Bhubaneshwar. Earlier in June, it received an ₹88.15 crore order from Daffodil Hotel Private Limited for civil work at Park Hyatt Goa.

Ahluwalia Contracts is an integrated construction company with over five decades of expertise in infrastructure development. In FY24, the company’s gross order book increased to ₹111,799 million from ₹81,627 million in FY23, representing 37% year-on-year growth.