Punj Lloyd rose 7.07% to Rs 25.75 at 11:01 IST on BSE after the company said it won a Rs 2780 crore pipeline contract in Turkey.
The announcement was made during trading hours today, 28 January 2016.Meanwhile, the BSE Sensex was down 4.14 points, or 0.02%, to 24,488.25.
On BSE, so far 5.85 lakh shares were traded in the counter, compared with an average volume of 4.82 lakh shares in the past one quarter. The stock hit a high of Rs 26.15 and a low of Rs 24.05 so far during the day. The stock hit a 52-week high of Rs 40.75 on 28 February 2015. The stock hit a record low of Rs 20.75 on 20 May 2015. The stock had underperformed the market over the past one month till 27 January 2016, sliding 13.64% compared with 5.21% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, falling 8.56% as against Sensex's 10.13% fall.
The small-cap diversified engineering, procurement, construction (EPC) conglomerate has an equity capital of Rs 66.42 crore. Face value per share is Rs 2.
Punj Lloyd announced winning 459 kilometre of the 48 dia TANAP Gas Pipeline in Turkey worth Rs 2780 crore ($409 million) in joint venture with Limak (50-50 share). Awarded to the joint venture by TANAP Dogalgaz Iletim A.S. Punj Lloyd's value of the project amounts to Rs 1390 crore ($204 million).
TANAP, The Trans Anatohan Natural Gas Pipeline Project, will be built to transport natural gas emanating from the South Caucasus Pipeline Company (SCPC) pipeline. In Georgia and terminating Into the TransAdriatic Pipeline (TAP) in Greece.
Punj Lloyd's scope of the present project (Lot 4) is Ihe second phase of construction from the new Eskisehir Compressor station to the tie-in point of the Trans Adriatic Pipeline (TAP). The proposed natural gas pipeline is of 48 diameter and 459 km in length. The scope also includes 10 Block Valve Stations, Pigging facility (two within Compressor stations, two at pigging stations) and Tie-ins with Metering Stations.
The proposed pipeline section begins from Compressor Station 5A at Eskisehir in Turkey and travel through the vicinity of major cities like Eskisehir, Bursa, Balikesir, Canakkale and Edirne, passing through a terrain ranging from lowland to high rocky mountain ranges with steep slopes/side slopes, deep forest, agricultural fields, numerous river and road/track crossings, environmental sensitive and archaeological areas. The elevations are up to 1394 m in this section.
The TANAP Project aims to bring natural gas produced from Azerbaijan's Shah Deniz-2 gas field, and other areas of the Caspian Sea, primarily to Turkey arid also on to Europe. The TANAP Project, along with the South Caucasus Pipeline (SCP) and the Trans-Adriatic Pipeline (TAP) form the elements of the Southern Gas Corridor.
With this win, the group's order backlog stands at Rs 23228 crore. The order backlog is the value of unexecuted orders on 30 September 2015 plus new orders received after that date.
The TANAP project is of strategic importance for both Azerbaijan and Turkey. It will allow first Azerbaijani gas exports to Europe, beyond Turkey. It will also strengthen the role of Turkey as a regional energy hub.
Punj Lloyd posted net loss of Rs 283.20 crore in Q2 September 2015, higher than net loss of Rs 263.51 crore for Q2 September 2014. Net sales decreased 20.4% to Rs 1003.83 crore in Q2 September 2015 over Q2 September 2014.
Punj Lloyd is a diversified international conglomerate offering EPC services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector. The second largest engineering and construction company in India, Punj Lloyd has operations spread across 24 countries, a mix across the Middle East, Africa, the Caspian, Europe, Asia Pacific and South Asia.
Powered by Capital Market - Live News
