Shares of Ahluwalia Contracts (India) rose 7 percent on July 11 after securing an order worth Rs 893.48 crores. The Airports Authority of India (AAI) gave the order for the development of Lal Bahadur International Airport in Varanasi.
The order which has to be executed within 36 months involves the construction of a new terminal building and allied works on
Engineering Procurement and Construction (EPC) model, Ahluwalia Contracts said in a filing.
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At 11.50 AM, shares of Ahluwalia Contracts traded over 5 percent higher at Rs 1,496. The stock has gained 77 percent in the past six months, significantly outperforming the Nifty 50 which gained 12 percent during the same period.
Last week, the company announced securing a Rs 572 crore order from the AAI to build a new terminal at Darbhanga Airport in Bihar. The project is expected to be completed within 24 months.
Last month, Ahluwalia Contracts revealed two major orders totalling Rs 2,245.15 crore. The first was a Rs 2,157 crore contract from India Jewellery Park, Mumbai and involved constructing a gems and jewellery park in Navi Mumbai. The second order, worth Rs 88.15 crore, was from Daffodil Hotel Pvt Ltd for civil work on the Park.
Ahluwalia Contracts is an EPC company, primarily engaged in the business of civil construction activities.
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