Punj Lloyd builds on new order win

Punj Lloyd surged 6.77% to Rs 324.75 at 13:49 IST on BSE after Lanco Infratech said it had awarded a Rs 50 crore contract to a unit of Punj Lloyd to build a facility in Hyderabad.

On BSE, 8.1 lakh shares were traded in the counter. The scrip had an average daily volume of 6.63 lakh shares in the past one quarter.

The stock hit a high of Rs 325.75 and a low of Rs 286.30 so far during the day. The stock had a 52-week high of Rs 589.10 on 4 January 2008 and a 52-week low of Rs 144.50 on 8 March 2007.

The mid-cap scrip had underperformed the market over the past one month till 7 March 2008, declining 21.32% compared to the Sensex’s fall of 8.85%. It had also underperformed the market in the past one quarter, declining 39.66% compared to Sensex’s decline of 19.99%.

The company’s current equity is Rs 60.68 crore. Face value per share is Rs 2.

The current price of Rs 324.75 discounts Q3 December 2007 annualized EPS of Rs 5.2, by a PE multiple of 62.45.

Sembawang Infrastructure India, which won the order, is an arm of Singapore's Sembawang Engineers & Constructors that is fully owned by Punj Lloyd.

Punj Lloyd announced on Friday, 7 March 2008, that a consortium of the company had won a gas pipeline project worth $500 million in Malaysia.

Punj Lloyd’s net profit rose 105.7% to Rs 39.16 crore on 91.4% growth in net sales to Rs 1243.75 crore in Q3 December 2007 over Q3 December 2006.

The company provides engineering, designing, procurement, construction and project management services for energy industry and infrastructure sector projects.