Punj Lloyd gains after board approves issue of NCDs including bonds

Punj Lloyd rose 2.77% to Rs 40.80 at 12:57 IST on BSE after the company said that the Board of Directors of the company at its meeting held today, 3 September 2014 approved issue of Non Convertible Debentures including bonds.

The announcement was made during market hours today, 3 September 2014.

Meanwhile, the BSE Sensex was up 92.42 points or 0.34% at 27,111.86.

On BSE, so far 12.02 lakh shares were traded in the counter, compared with an average volume of 11.54 lakh shares in the past one quarter.

The stock hit a high of Rs 41.65 and a low of Rs 40.50 so far during the day. The stock hit a 52-week high of Rs 60.85 on 19 June 2014. The stock hit a all-time low of Rs 20.25 on 4 September 2013.

The stock had underperformed the market over the past one month till 2 September 2014, falling 5.25% compared with 6.04% rise in the Sensex. The scrip also underperformed the market in past one quarter, sliding 8.84% as against Sensex's 9.46% rise.

The small-cap company has an equity capital of Rs 66.42 crore. Face value per share is Rs 2.

Punj Lloyd has decided to convene an Extra Ordinary General Meeting of the company on 30 September 2014 at Epicentre, Apparel House, Sector 44, Gurgaon - 122 002, Haryana for obtaining the approval of members of the company for the Non Convertible Debentures including bonds to be issued by the company.

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. 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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