Ahluwalia Contracts Wins Rs 888-Crore Bihar Tourism Order for Ram Temple; Shares Rally 4%

Shares of Ahluwalia Contracts (India) Ltd surged 4% to touch a day’s high of Rs 1,025 on 17th December, after the company said on Tuesday (16th December) that it has secured a construction order worth Rs 888.38 crore, including GST, from Bihar State Tourism Development Corporation Ltd.

The order involves the construction and development of Shri Ram Janmabhoomi Tirtha Kshetra at Punauradham in Bihar’s Sitamarhi district. It will be executed under the EPC mode over 42 months.

Ahluwalia Contracts said the project was awarded by a domestic entity. They added that promoters have no interest in the awarding body.

In June, the company secured two domestic construction orders worth Rs 1,103.56 crore.

These include a Rs 821-crore residential project in Gurugram to be completed in 36 months. There is also a Rs 282.56-crore housing project in Bengaluru with a 32-month execution timeline. Importantly, there are no related-party transactions involved.

At 11:07 AM, shares of Ahluwalia Contracts were trading 3.31% higher at Rs 984 on NSE.

Unicorn Signals leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app today and 10x your trading & investing journey!

The post Ahluwalia Contracts Wins Rs 888-Crore Bihar Tourism Order for Ram Temple; Shares Rally 4% appeared first on Equitypandit.