The company informed the exchanges on April 11, 2008, and this led to a rise in the share prices by over 4.45 per cent in a day. The stock closed at Rs 331 per share.
With this project, the order backlog for Punj Lloyd Group is Rs 21,409.2 crore and stands at over 4 times its FY07 sales. The stock made a 52-week high of Rs 589 in January 2008, and subsequently corrected along with the fall in the market.
The stock has gained over 7 per cent in the last week and is trading 4.46 per cent lower over its price a month ago. The stock is currently trading about 30 times its estimated FY08 earnings and 17 times its FY09 earnings.
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