 "Punj Lloyd rallies on winning Rs 666 crore highway contract")
Punj Lloyd has rallied 6% to Rs 40.70 on National Stock Exchange (NSE) after the company said it has secured Rs 666 crore Asian highway contract from the Ministry of Road Transport & Highways.
“The company has secured EPC highway contract worth Rs 666 crore from the Ministry of Road Transport & Highways for 90.586 kilometers of the Asian Highway network,” Punj Lloyd said in statement.
The scope of the work comprises rehabilitation and upgrading to 2/4-lane of Bhutan border at Pasakha to Bangladesh border of Changrabandha, it added.
Asian Highway network is a cooperative project for improving transport facilities throughout 32 nations and providing road links to Europe. The project is scheduled for completion in 30 months.
With this new order Group's order backlog stands at Rs 24,021 crore. The order backlog is the value of unexecuted orders on 30 September 2014, plus new orders received after that date. Cumulative order booking during the year is Rs 10,606 crore.
The stock opened at Rs 39.75 and hit a high of Rs 41.40 on NSE. A combined 1.96 million shares changed hands on the counter till 0955 hours on NSE and BSE.
“The company has secured EPC highway contract worth Rs 666 crore from the Ministry of Road Transport & Highways for 90.586 kilometers of the Asian Highway network,” Punj Lloyd said in statement.
The scope of the work comprises rehabilitation and upgrading to 2/4-lane of Bhutan border at Pasakha to Bangladesh border of Changrabandha, it added.
Asian Highway network is a cooperative project for improving transport facilities throughout 32 nations and providing road links to Europe. The project is scheduled for completion in 30 months.
With this new order Group's order backlog stands at Rs 24,021 crore. The order backlog is the value of unexecuted orders on 30 September 2014, plus new orders received after that date. Cumulative order booking during the year is Rs 10,606 crore.
The stock opened at Rs 39.75 and hit a high of Rs 41.40 on NSE. A combined 1.96 million shares changed hands on the counter till 0955 hours on NSE and BSE.
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