Ahluwalia Contracts (India) spurts after winning contracts

Ahluwalia Contracts (India) rose almost 8% to Rs 320 on the BSE after the company said it secured new orders worth of approximately Rs 244.13 crore.

On BSE, so far 54,000 shares were traded in the counter, compared with average daily volume of 4,832 shares in the past one quarter. The stock hit a high of Rs 336.20 so far during the day, which is a 52-week high for the counter. The stock hit a low of Rs 302 so far during the day.

The stock hit a 52-week low of Rs 210 on 25 February 2016. The stock had outperformed the market over the past 30 days till 2 September 2016, rising 4.34% compared with 2.95% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 13.15% as against Sensex's 6.29% rise.

The small-cap company has equity capital of Rs 13.40 crore. Face value per share is Rs 2.

Ahluwalia Contracts (India) said the new orders are for construction of hospital building, including electrical, plumbing and firefighting services for Chittaranjan National Cancer Institute at Kolkata. The total order inflow during the financial year ending March 2017 stands at Rs 1209.59 crore.