India's Ahluwalia Contracts hits 2-1/2 month high on 1.75 bln-rupee order

Ahluwalia Contracts (India)

06/12/2022 04:17

** Shares of construction business Ahluwalia Contracts 
(India) Ltd  AHLU.NS  rise as much as 5% to 462 rupees, marking
sharpest intraday pct gain since Nov. 16
    ** Stock of AHLU hits highest level since Sept 22, on track
for a third consecutive session of gains
    ** AHLU on Monday secured an order from Assam government,
worth 1.75 billion rupees ($21.27 million), to construct public
auditorium with a seating capacity of 5,000 at Guwahati, Assam
    ** More than 31,000 shares change hands by 9:41 p.m. IST,
just above 30-day avg of 29,654 shares
    ** Seven of the 8 analysts covering the stock have a "buy"
or "strong buy" rating, 1 has "hold"; median PT is 538.50 rupees
- Refinitiv data
    ** Stock up 9.4% YTD, as of last close
($1 = 82.2670 Indian rupees)
 (Reporting by Anisha Ajith in Bengaluru)
 ((anisha.ajith@thomsonreuters.com))