Punj Lloyd spurts on large order

Punj Lloyd was locked at 10% upper circuit at Rs 40.60 at 11:23 IST on BSE after the firm said it has secured Rs 3515 crore rapid tank farm order from PRPC Refinery and Cracker, a subsidiary under the PETRONAS group.

The announcement was made during market hours today, 8 September 2014.

Meanwhile, the S&P BSE Sensex was up 208.84 points or 0.77% at 27,235.54.

On BSE, so far 8.82 lakh shares were traded in the counter as against average daily volume of 5.51 lakh shares in the past two weeks.

The stock hit a low of Rs 36.55 so far during the day.

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.

Commenting on the order win, J. P. Chalasani, MD and Group CEO, Punj Lloyd said, "Punj Lloyd is privileged to be part of PIC's critical milestone requirements. Our expertise in tankage is recognised globally with our greatest advantage being our in-house engineering skill and extensive project experience of large scale tank projects".

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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