Ahluwalia Contracts (India) hits record high on $47.5 mln order win

Ahluwalia Contracts (India)

05/02/2024 06:01

** Shares of Ahluwalia Contracts (India)  AHLU.NS  rise as
much as 7.1% to a fresh record high of 926.9 rupees 
    ** Engineering firm receives order worth 3.94 bln rupees
($47.5 mln)
    ** Stock hit a record high earlier on Jan. 31
    ** Stock has gained about 35% and hit multiple record highs
since reporting Sept-qtr profit climb on Nov. 10; Dec-qtr
results on Feb. 13
    ** Analysts' avg rating is "hold"; avg PT is 785.64 rupees -
LSEG data
    ** Major rivals KNR Constructions  KNRL.NS  and G R
Infraprojects  GINF.NS  rated "buy", PNC Infratech  PNCI.NS  and
HG Infra Engineering  HGIN.NS  rated "strong buy" - LSEG

($1 = 83.0225 Indian rupees)

 (Reporting by Varun Vyas in Bengaluru)
 ((varunvyas.hebbalalu@thomsonreuters.com))