Ahluwalia Contracts (India) advances after Aditya Birla Sun Life MF buys 1% stake

Ahluwalia Contracts (India) jumped 3.03% to Rs 374.10 after Aditya Birla Sun Life Mutual Fund (MF) bought 8,15,000 equity shares (or 1.21% stake) of the company at Rs 369.50 per share via bulk deals on NSE on Wednesday, 22 September 2021.

Meanwhile, on the same day, promoter Sudershan Walia sold 18,00,000 equity shares (or 2.68% stake) of the company at Rs 369.59 per equity share via bulk deals on NSE.

As of 30 June 2021, promoter Sudershan Walia held 33.22% stake in Ahluwalia Contracts (India).

The company's consolidated net profit surged to Rs 34.78 crore in Q1 FY22 from Rs 7.47 crore in Q1 FY21. Net sales during the quarter increased by 132.2% Y-o-Y to Rs 580.10 crore.

Ahluwalia Contracts' project portfolio encompasses projects across residential and commercial complexes, hotels, institutional buildings, hospitals and corporate offices, information technology (IT) parks and industrial complexes.

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