Punj Lloyd slides

Punj Lloyd declined 6.40% to Rs 326.95 at 16:05 IST on BSE on sustained selling pressure.
Meanwhile, BSE Sensex was up 202.10 points or 1.24% to 16,541.99, as expectations of a US interest rate cut strengthened.
On BSE, 10.54 lakh shares were traded in the counter. The scrip had an average daily volume of 6.59 lakh shares in the past one quarter.
The stock hit a high of Rs 350.10 and a low of Rs 323 far during the day. The stock had a 52-week high of Rs 589.10 on 4 January 2007 and a 52-week low of Rs 142.31 on 7 March 2007.
The mid-cap scrip had outperformed the market over the past one month till 4 March 2008, declining 11.67% compared to the Sensex’s fall of 12.44%. It had underperformed the market in the past one quarter, declining 32.71% compared to Sensex’s decline of 17.22%.
The company’s current equity is Rs 60.68 crore. Face value per share is Rs 2.
The current price of Rs 326.95 discounts Q3 December 2007 annualized EPS of Rs 5.20, by a PE multiple of 62.88.
On 14 February 2008, Punj Lloyd’s wholly owned subsidiary Sembawang Engineers and Constructors secured an order worth Singapore $400 million to build part of the Marina Bay Sands resort in Singapore.
In December 2007, the company secured a contract for building delayed coker unit & coker LPG Merox Block for the residue upgradation project of Indian Oil Corporation at its Vadodara, Gujarat refinery.
On 30 November 2007, Sembawang Engineers & Constructors bagged an order worth Rs 1272 crore for architectural, civil and structural works from Land Transport Authority, Singapore.
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.