Why are shares of IndiGo, Ahluwalia Contracts, Gravita India & Dreamfolks rising today?

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Ahluwalia Contracts, Gravita India & Dreamfolks Services, Dhanseri Tea & Industries and InterGlobe Aviation (Indigo) remained in the news in Tuesday’s trade amid stock specific news. Ahluwalia Contracts jumps on orders, Dreamfox Services on strategic partnership, IndiGo announces partnership with Turkish Airlines on new flights to European cities, Gravita India starts commercial production at subsidiary and Dhanseri Tea sets up tea gardens acquired.

Shares of Ahluwalia Contracts (India) rose 6.73 per cent to Rs 468.45 after the company bagged an order from Executive Engineer, PWD, Dispur, Guwahati (Assam) for construction of 5000 seating capacity public auditorium in Guwahati, worth Rs 174.88 crore Was. The order inflow for FY23 stands at Rs 3,962.24 crore, the company said.

Shares of Gravita India jumped 5.51 per cent to Rs 399.95. The recycling company said on Tuesday that Gravita Togo SAU, a subsidiary of the company based in West Africa, has started commercial production of aluminum castalloys from a new recycling plant with an annual capacity of approximately 4,000 MTPA in Phase I. The company said the new capacity is expected to generate an additional revenue of Rs 60 crore per annum with a gross margin of around 26 per cent.

Shares of Dreamfolks Services rose 3.51 per cent to Rs 387 after the company entered into a strategic partnership with Vidsur Golf. This association will enable Dreamfox to expand its diversified service offering by enabling customers access to golf courses in India and the Asia Pacific region.

Shares of InterGlobe Aviation rose 1.57 per cent to hit an intraday high of Rs 1,949.85. The company has launched 32 new connecting flights to Milan, Manchester, Birmingham, Rome and Venice with effect from 7 December through its codeshare partnership with Turkish Airlines. These new routes will provide more choice and increase capacity for customers traveling between India and Europe during the upcoming holiday season.

Meanwhile, shares of Dhanseri Tea & Industries rose 18 per cent in Tuesday’s trade after the company said it has acquired Budlabeta Tea Estate and Hapjan Tea Estate from APJ Tea located in Assam’s Tinsukia district to increase production, turnover and profitability. Have done Earlier, the company had entered into a deal with Warren Tea to buy four of its tea estates in Assam. Following the latest development, the stock rose 17.67 per cent to hit an intraday high of Rs 261 on BSE. With this, the stock has gained 31 per cent in the last one month. Moreover, the stock is up 47 per cent from its 52-week low of Rs 177.10 on June 21.

Read also: Bajaj Consumer shares rise 5% on share buyback plan

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