Ahluwalia Contracts at new high

Ahluwalia Contracts is making waves as the Street seems to be celebrating its new order receipt. The company secured an order from Airports Authority of India.

This order is worth Rs 572 crore and is to be executed over 24 months.

This is for construction of new terminal building, allied structure and external development works on engineering, procurement and construction (EPC) model.

This is for development of New Civil Enclave at Darbhanga Airport at Bihar.

The company prior to this had got four other orders – Rs.384 crore from Birla Arnaa, Rs.99 crore order from Indian Financial Technology, Rs.2157 crore from India Jewellery Park, Mumbai and Rs.88 crore from  Daffodil Hotel.

The stock is in the green, opening over 2% higher at Rs.1306.45 and rising to a new high at Rs.1540, up 18%.