Ahluwalia Contracts Bags Deal Worth Rs 572 Crore From Airports Authority Of India

Ahluwalia Contracts Ltd. bagged a contract from the Airports Authority of India to develop a civil enclave at Darbhanga Airport in Bihar.

The development, according to an exchange filing, will include the construction of a new terminal building and allied structure and external development works on the engineering, procurement and construction model.

The construction will be for domestic purposes and for two years.

Shares Of Ahluwalia Contracts traded 0.77% lower at Rs 1316.60 apiece on Thursday compared with a 0.06% rise in the NSE Nifty 50.

The stock has fallen 66.84% year-to-date and 113.37% in the last 12 months. Total traded volume so far today stood at 0.37 times its 30-day average. The relative strength index was at 63.40%.

Of the analysts tracking the company, six maintain a 'buy' rating, two suggest 'hold', and five recommend 'sell', according to Bloomberg data. The average of 12-month analysts' price targets implies a potential downside of 6.7%.