Punj Lloyd up 14% as JV wins contract worth of Rs 1,177 crore from NHAI

The trading volumes jumped an over five-fold with a combined 7.4 million shares traded till 10:52 am

Punj Lloyd surged 14% to Rs 21.85 on BSE in intra-day trade on back of heavy volumes on reports that a Punj Lloyd JV has won Rs 1,177-crore project in Myanmar from the National Highways Authority of India (NHAI).

"The NHAI has awarded its first international project in Myanmar. A joint venture between Punj Llyod and Varaha Infrastructure Ltd has won the bid to construct the Yagyi- Kalewa road section in Myanmar at a cost of Rs 1,177 crore," the PTI report suggests quoting a senior NHAI official. CLICK HERE TO READ FULL REPORT.

The BSE said that the exchange has sought clarification from Punj Lloyd on September 7, 2017 with reference to said news. The reply is awaited.

At 10:52 am, the stock was quoting at Rs 21.75 on BSE. The trading volumes on the counter jumped more than five-fold with a combined 7.44 million shares changed hands on BSE and NSE so far.