Punj Lloyd jumps over 5% in two sessions

Punj Lloyd rose 1.07% to Rs 28.25 at 11:27 IST on BSE, extending yesterday's 3.90% rise triggered by the company winning a Rs 367 crore contract from Indian Oil Corporation.

The announcement was made during trading hours yesterday, 15 October 2015. Shares of Punj Lloyd rose 3.90% to Rs 27.95 yesterday, 15 October 2015. The stock has risen 5.02% in two sessions from Rs 26.90 on 14 October 2015.

Meanwhile, the BSE Sensex was down 56.45 points, or 0.21%, to 26,953.69.

On BSE, so far 4.71 lakh shares were traded in the counter, compared with an average volume of 7.76 lakh shares in the past one quarter.

The stock hit a high of Rs 29.25 and a low of Rs 28 so far during the day. The stock hit a 52-week high of Rs 42.45 on 4 December 2014. The stock hit a 52-week low of Rs 20.75 on 20 May 2015.

The stock had outperformed the market over the past one month till 15 October 2015, rising 18.94% compared with 5.07% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 4.49% as against Sensex's 4.21% decline.

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

Punj Lloyd announced winning an engineering, procurement, construction and commissioning (EPCC) contract at Paradip Refinery in Odisha from Indian Oil Corporation (IOCL) for a value of Rs 367 crore.

The scope of work for the project involves the Residual Basic Engineering including HAZOP study, detailed engineering, procurement, construction and commissioning of the Coker LPG Treating Unit and offsite and utility facility.

Paradip Refinery is located on the east coast of India, 5 kilometre from Paradip Port, in the state of Odisha. The site, spread over a total area of 3344 acres, is about 90 km by road from Cuttack and about 120 km from Bhubaneswar, the capita! of Odisha.

Punj Lloyd reported a net loss of Rs 597.84 crore in Q1 June 2015, higher than net loss of Rs 363.92 crore in Q1 June 2014. Net sales dropped 41.1% to Rs 652.77 crore in Q1 June 2015 over Q1 June 2014.

Punj Lloyd is a diversified international conglomerate offering engineering, procurement and construction (EPC) services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.

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