Punj Lloyd spurts after winning new orders

Punj Lloyd rose 6.96% to Rs 26.90 at 12:42 IST on BSE after the company said it received Rs 488 crore worth of projects in the power sector including its first two wins in the transmission and distribution segment.

The announcement was made during trading hours today, 7 October 2015.

Meanwhile, the BSE Sensex was up 45.28 points, or 0.17%, to 26,978.16.

On BSE, so far 11.74 lakh shares were traded in the counter, compared with an average volume of 3.01 lakh shares in the past two weeks.

The stock hit a high of Rs 27.25 and a low of Rs 25.60 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.

Awarded by the Power Grid Corporation of India (PGCIL), both the Transmission and Distribution (T&D) orders are for the rural electrification of districts in Odisha - Jajpur, Khorda and Ganjam under the Rajiv Gandhi Gramin Vidyutikaran Yojna (RGOVY) -12th Plan, Punj Lloyd said in a statement. The scope of work includes the augmentation of the existing 33/11 kV s/s, construction of 11 kV Outgoing Bay, construction of new 11 kV line, LT lines, installation of distribution transformers and service connection to BPL consumers.

Along with these two T&D projects, Punj Lloyd has also won its first power project from Bhel for the civil, structural and architectural work of the non plant works and raw water reservoir, roads and drains at the 800 MW Kothagudem Thermal Power Project in Khammam District, Telangana.

The group's order backlog stands at Rs 21466 crore. The order backlog is the value of unexecuted orders on 30 June 2015 plus new orders received after that date, the company said.

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

Powered by Capital Market - Live News