Ahluwalia Contracts gains after order win

Ahluwalia Contracts (India) rose 1.62% to Rs 326.70 after the company announced award of new projects worth of Rs 497.36 crore.

Ahluwalia Contracts (India) said it secured new order of Rs 407 crore for construction of medical college (civil works) at Haryana and other orders aggregating to Rs 90.36 crore.

The total order inflow during the FY 2019-20 stands at Rs 927.59 crore. The announcement was made after trading hours yesterday, 17 September 2019.

Shares of Ahluwalia Contracts (India) rose 4.81% in three trading sessions to its current market price of Rs 326.70, from a recent closing low of Rs 311.70 on 12 September 2019.

On BSE, 438 shares were traded in Ahluwalia Contracts (India) counter, compared to a 2-week average of 281 shares. The stock hit an intraday high of Rs 341 and an intraday low of Rs 325.

It hit a 52-week high of Rs 385 on 28 May 2019 and a 52-week low of Rs 243.60 on 7 February 2019.

Ahluwalia Contracts (India)'s consolidated net profit fell 36.7% to Rs 17.82 crore on a 22.2% decline in net sales to Rs 316.80 crore in Q1 June 2019 compared with Q1 June 2018.

Ahluwalia Contracts (India)'s project portfolio encompasses projects across residential and commercial complexes, hotels, institutional buildings, hospitals and corporate offices, information technology (IT) parks and industrial complexes, metro station and depot, power plants and automated car parking lot, among others.

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