Ahluwalia Contracts (India) Ltd.’s shares jumped 18% on Friday after the company announced that it had received an order for Darbhanga Airport from the Airports Authority of India (AAI). The deal, worth Rs 572 crore, is for the engineering, procurement and construction (EPC) model of creating a new terminal building, allied structure and external development works.
Ahluwalia Contracts stated in a BSE filing that the development of the new civil enclave at Darbhanga Airport in Bihar would take 24 months to complete. The stock increased 17.87 percent in the wake of the development, hitting a high of Rs 1,540 on BSE. With this, the share price has increased by 89% so far in 2024.
As of May 31, Arihant Capital Markets predicted that Ahluwalia Contracts’ FY25 margins will exceed 10%. Because of the monsoon season and labour shortages, it was anticipated that the June quarter would remain slow.
At 2:54 pm, Ahluwalia Contracts shares were trading 13.51% at ₹1483.00.
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