Ahluwalia Contracts (India) up on $270 mln order win

Ahluwalia Contracts (India)

03/06/2024 06:30

** Shares of Ahluwalia Contracts (India)  AHLU.NS  rise as
much as 13.1% to 1,325 rupees; last up 5.6%
    ** The engineering co receives multiple orders worth 22.45
billion rupees ($270.32 million)
    ** Co also tracking Indian benchmarks, which surged to
record highs after exit polls over the weekend projected a third
term for Prime Minister Narendra Modi's government in the
recently-concluded general elections
    ** Nifty 50  .NSEI  and BSE Sensex  .BSESN  currently up
around 2.7% each
    ** AHLU had gained 4.8% in May for second straight month of
gains
    ** Nine analysts covering the stock on average have a "buy"
rating; median PT is at 1,190.50 rupees - LSEG data
    ** Stock up ~59% YTD, had gained ~63% in 2023 for best
yearly gains since 2014


($1 = 83.0500 Indian rupees)

 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))