Punj Lyod finally settled with a surge of 3.5% to Rs 224. The stock touched a high of Rs 227 and a low of Rs 210 during the day. The counter witnessed trades of around 1.7 million shares as aginst its two-week average traded quantity of Rs 2.2 million shares.
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Punj Lloyd has advanced 2% in early trades after successfully raising Rs 670 crore through share sale.
The stocks opened at Rs 219 and slipped to a low of Rs 210. It surged 5.5% to touch a high of Rs 222. The stock is now up 1.5% at Rs 220. However, it has dropped 9% in the past week.
Over 390,900 shares have been traded on the BSE so far.
The company has successfully raised Rs 670 crore through the issue of shares to institutional investors on a private placement basis. According to a release issued by the company to the BSE, the board has alloted 2.79 crore shares to qualified instituional buyers at a price of Rs 240.20 a piece.
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