Punj Lloyd gains over 5% on bagging projects worth Rs 488 cr

Shares of Punj Lloyd gained over 5 per cent today after the company said it has won Rs 488 crore worth projects in the power sector.
The company's scrip went up 5.37 per cent to settle at Rs 26.50 on BSE. During the day, it rallied 8.34 per cent to Rs 27.25.
At NSE, shares of the company surged 5.36 per cent to end at Rs 26.50.
In terms of volume, 15.48 lakh shares of the company changed hands at BSE and over 57 lakh shares were traded on NSE during the day.
Diversified group Punj Lloyd has forayed into the power transmission and distribution sector as it bagged two projects in the segment from Power Grid Corp.

The company in a regulatory filing today said that it has won Rs 488-crore worth projects in the power sector, including "its first two wins in the transmission and distribution (T&D) segment."
Awarded by Power Grid Corporation, both the T&D orders are for rural electrification of three districts in Odisha -- Jajpur, Khorda and Ganjam -- under the Rajiv Gandhi Gramin Vidyutikaran Yojna (RGGVY), the company said.
"The scope of the work includes 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," it added.