Brief India: Ahluwalia Contracts India Ltd - Robust Operating Performance Delivered; Maintain BUY and more
In this briefing: Ahluwalia Contracts India Ltd - Robust Operating Performance Delivered; Maintain BUY Max Healthcare Institute Ltd - Robust Performance Led by Occupancies Top Conviction Ideas - “Metals & Mining” Stat-Arb Pair Trade: Long Bank of Baroda (BOB IN) Vs. Short Canara Bank (CBK IN) Amber Enterprise–Shogini Deal: A Strategic Leap Toward Full-Stack Electronics Manufacturing 1. Ahluwalia Contracts India Ltd - Robust Operating Performance Delivered; Maintain BUY Robust Order Book to Drive Growth: The company has an order book of Rs 18,057 Cr (as of 30 th September, 2025) and a YTD order inflow of Rs 4,374 Cr. The order book is primarily composed of Hospital at 9% (Rs 1,619 Cr), Commercial at 20.6% (Rs 3,711 Cr), Institutional at 3.7% (Rs 661 Cr), Residential at 43.8% (Rs 7,918 Cr), Infrastructure at 22% (Rs 3,997 Cr), and Hotel at 0.7% (Rs 150 Cr). By geography, East constitutes 15%, North 50%, West 30%, South 4%, and Overseas 1%. The robust order book provides revenue visibility for the next 2– 2.5 years.