India's Ahluwalia Contracts up 6% on 24.50 bln rupees order win

Ahluwalia Contracts (India)

02/05/2023 07:30

** Shares of Ahluwalia Contracts Ltd  AHLU.NS  rise as much
as 6.29% to 547 rupees, a three-week high
    ** The engineering, procurement and construction (EPC)
company bags an order worth 24.50 billion rupees ($299.62
million) from Rail Land Development Authority
    ** Order pertains to the re-development of Chhatrapati
Shivaji Maharaj Terminus (CSMT) in Mumbai
    ** Trading volume at 78,017 shares as of 11:54 a.m. IST,
1.5x the 30-day avg
    ** Of the 10 analysts tracking AHLU, seven maintain "buy"
rating on stock and three recommend "hold"; median target price
is 562 rupees  - Refinitiv data


($1 = 81.7700 Indian rupees)

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))