Shares of Ahluwalia Contracts (India) Ltd surged sharply in early trade on December 17 after the company announced it had secured a large civil construction order worth Rs 888.38 crore.
At around 9:17 am, Ahluwalia Contracts was trading at Rs 1,003.45 on the BSE, up Rs 49 or 5.13 percent, after touching an intraday high of Rs 1,025.
Details of the New Order
The contract has been awarded by the Bihar State Tourism Development Corporation for the construction and overall development of Shri Ram Janmabhoomi Tirtha Kshetra at Punauradham, the birthplace of Mother Sita, located in Sitamarhi district, Bihar.
The project will be executed on an EPC (Engineering, Procurement and Construction) basis and is scheduled to be completed within 42 months.
Stock Reaction
The order win boosted investor sentiment, leading to strong buying interest in the stock during early trade. The development strengthens Ahluwalia ContractsтАЩ already robust order book and enhances its visibility in large-scale infrastructure and heritage projects.
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