Punj Lloyd surges on Oman order

DALAL STREET SPIKES

Punj Lloyd was up 8.2 per cent to Rs 180 on volumes of over 7.7 lakh as it announced that it had secured the contract for construction of pipeline from Oman Gas on EPC basis.

The contract valued at Rs 530 crore and involves engineering, procurement and construction of 24 inch, 40 km pipeline from Murayrat to Barka; 32 inch, 252 km pipeline from Saih Rawl to Mukhaizna loopline, with an optional scope of construction of compression station at Nimr.

The scrip hasn't had a great time at the bourses in the last one year and has in fact declined by over 17 per cent in this period.