The company is part of a select group of 3-4 contractors shortlisted to bid on most construction megaprojects in the country.
Shares of Ahluwalia Contracts (India) Ltd, an S&P BSE SmallCap Company, are listed on stock exchanges today. During today’s session, this company’s share price jumped 9.5% from the previous close.
This movement in the stock price occurred following a large order won by the company on Monday after market hours. According to the swap filing, the company placed an order worth around Rs 150 crore from the Ritnand Balved Education Foundation. The order concerns the construction works of the Amity Campus in Bangalore.
With this new order, the total order flow of Ahluwalia Contracts (India) Ltd in FY23 stands at Rs 863 crore. In a context of weak markets, this gain in order received a positive response from the markets. Even in today’s pre-opening session, the company’s share price rose by 7.09% to trade at Rs 444 apiece.
The title of Ahluwalia Contracts (India), one of the main civil contractors in the country, was trading at Rs 452.40 each at 12:43 p.m.