Ahluwalia Contracts India gains as brokerage upgrades to 'buy'

Ahluwalia Contracts (India)

17/09/2024 08:38

** Shares of Ahluwalia Contracts India  AHLU.NS  climb 2% to
1,211 rupees
    ** Axis Securities upgrades to "buy" from "hold", keeps PT
at 1,340 rupees - a ~13% premium on last close 
    ** Brokerage says co's current order book gives revenue
visibility for the next 3-4 years, citing interaction with AHLU
management 
    ** Sees steady rev growth on the back of steady execution of
projects, government focus on infrastructure and better traction
in private orders 
    ** Expects 21% CAGR over FY24-26 
    ** Adds key risks include higher commodity prices, labour
shortage impact on project execution, lower order intake 
    ** Analysts' avg rating on stock is "hold", median PT is
1,273 rupees - LSEG data 
    ** Stock up ~56% YTD 
    

 (Reporting by Manvi Pant in Bengaluru)
 ((Manvi.Pant@thomsonreuters.com; +918447554364;))