Ahluwalia Contract share touched a 52-week high of Rs 697.7. The stock rallied up 5% in early trade of July 14 as the company won a contract worth Rs 199.58 crore.

Ahluwalia Contract has received a contract from Enterprise Computing and Cybersecurity Training Institute at Bhubaneshwar, Orisa. The project is for civil structural, facade and related external development works.

The said project has a deadline of 20 months and was given by Indian Financial Technology and Allied Services.

Ahluwalia Contract is a key beneficiary of the tailwinds in the segments such as real estate, hospitals, hotels, station redevelopment, and corporate/industrial capex.

The company has a strong expertise of 5 decades, order book visibility, a history of robust execution and balance sheet strength. Ahluwalia is poised for solid growth ahead, said ICICIdirect.

The broking house initiated coverage with a buy rating with a target of Rs 800 per share (based on 16x FY25 P/E).

At 10:07 am, Ahluwalia Contracts India quoted Rs 684.30, up Rs 18.45, or 2.77% on the NSE.