Ahluwalia Contracts to Develop Lal Bahadur International Airport for Rs. 893.48 Crores
Ahluwalia Contracts secures ₹893.48 crore EPC contract to develop Lal Bahadur Shastri International Airport in Varanasi, scheduled for 36-month completion; stock reacts with significant price activity.
by Damodharan N
Updated Jul 12, 2024
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Table of Content
Ahluwalia Contracts (India) Limited has secured a significant contract from the Airports Authority of India to develop the Lal Bahadur Shastri International Airport in Varanasi. The project, awarded on an Engineering Procurement and Construction (EPC) model, involves constructing a new terminal building and allied works.
Valued at Rs. 893.48 crores, excluding GST, the contract is slated for completion within 36 months. This development marks a strategic milestone for Ahluwalia Contracts in enhancing airport infrastructure domestically.
Read the Full Release Here
Market Reaction
On 11th July 2024, the stock of Ahluwalia Contracts saw significant market activity following the recent award of the Lal Bahadur Shastri International Airport project in Varanasi on an Engineering Procurement and Construction (EPC) model.
The stock opened at ₹1,427.00, reached a high of ₹1,540.30, and dipped to a low of ₹1,395.05. It closed at ₹1,475.35, higher than the previous close of ₹1,420.30. The last traded price was ₹1,472.00.
The volume of shares traded was 6,10,194, with a total trade value of ₹90,90,59,967.50 across 50,217 trades. The stock's volume-weighted average price (VWAP) was ₹1,489.79. The 52-week high and low were ₹1,542.45 and ₹650.00, respectively.
Watch the live price of the Ahluwalia Contracts on NSE Here
Ahluwalia Contracts
Ahluwalia Contracts (India) Ltd., with over 43 years of specialized experience in the construction industry, is recognized as a leading civil contractor in India. The company was awarded for their management excellence by the Construction Industry Development Council, Ahluwalia Contracts prioritizes quality and timely project completion.
They boast a robust infrastructure of concrete pumps, batching plants, tower cranes, and a skilled workforce of 2300 employees and around 30,000 daily wage workers. Known for collaborating with renowned architects and consultants, they specialize in diverse projects including institutional buildings, hospitals, hotels, and educational institutes nationwide.
Ahluwalia Contracts to Develop Lal Bahadur International Airport for Rs.893.48 Crores - FAQs
1. What new contract has Ahluwalia Contracts recently secured?
Ahluwalia Contracts has secured a contract to develop the Lal Bahadur Shastri International Airport in Varanasi.
2. Who awarded the new contract to Ahluwalia Contracts?
The contract was awarded by the Airports Authority of India.
3. What is the value of the new contract for developing the Lal Bahadur Shastri International Airport?
The contract is valued at ₹893.48 crores, excluding GST.
4. What does the new project for Lal Bahadur Shastri International Airport involve?
The project involves constructing a new terminal building and allied works.
5. What model is the new airport project awarded?
The project is awarded on an Engineering Procurement and Construction (EPC) model.
6. How long is the construction of the new terminal at Lal Bahadur Shastri International Airport expected to take?
The construction is slated for completion within 36 months.
7. How did the market react to the news of Ahluwalia Contracts securing the new airport project?
The stock saw significant market activity, with an increase in the closing price and high trading volume on 11th July 2024.
8. What is the volume-weighted average price (VWAP) of Ahluwalia Contracts stock on the day the project was announced?
The VWAP was ₹1,489.79 on 11th July 2024.
9. What are the 52-week high and low prices of Ahluwalia Contracts stock?
The 52-week high is ₹1,542.45, and the 52-week low is ₹650.00.
10. What is Ahluwalia Contracts known for in the construction industry?
Ahluwalia Contracts is recognized for quality and timely project completion, with experience in diverse projects including institutional buildings, hospitals, hotels, and educational institutes.
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