Punj Lloyd extends Monday's rally

Punj Lloyd rose 4.93% at Rs 42.60 at 9:21 IST on BSE, with the stock extending Monday's 10% rally triggered by the company securing a large order worth Rs 3515 crore from a subsidiary under the PETRONAS group.

Meanwhile, the S&P BSE Sensex was down 53.78 points or 0.2% at 27,266.07.

On BSE, so far 2.89 lakh shares were traded in the counter as against average daily volume of 5.97 lakh shares in the past two weeks.

The stock hit a high of Rs 42.65 and a low of Rs 41.20 so far during the day.

Shares of Punj Lloyd have rallied 15.29% in two trading sessions from Rs 36.95 on 5 September 2014, after the company during market hours on Monday, 8 September 2014 said it has secured Rs 3515 crore rapid tank farm order from PRPC Refinery and Cracker, a subsidiary under the PETRONAS group. The stock rallied by the maximum permissible level of 10% to settle at Rs 40.60 on Monday, 8 September 2014.

With the latest order, Punj Lloyd group's order backlog reaches Rs 24679 crore. The order backlog is the value of unexecuted orders on 30 June 2014 plus new orders received after that date. Total order booking in FY 2015 reached Rs 9940 crore, Punj Lloyd said in a statement.

Punj Lloyd reported a net loss of Rs 363.92 crore in Q1 June 2014 compared with a net profit of Rs 4.95 crore in Q1 June 2013. Net sales fell 50.2% to Rs 1107.47 crore in Q1 June 2014 over Q1 June 2013.

Punj Lloyd provides integrated design, engineering, procurement, construction and project management services in the energy and infrastructure sectors.

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