Punj Lloyd gains 4.5% on October 4, 2010
October 4th, 2010
Engineering company Punj Lloyd gained Rs. 6 or 4.57% in trade today. The stock opened at Rs. 132 on NSE and has hit a high of Rs. 138.20 and a low of Rs. 130.25 before closing at Rs. 137.40.
The stock is trading at Rs. 131 levels till 2:30 or so and has suddenly jumped up to day highs of Rs. 138.20.
Brokerage recommendations
Earlier today, Angel Broking has given a buy recommendation to the stock. The brokerage has given a target of Rs. 156 to the script.
News
On October 1, 2010, Punj Lloyd said its subsidiary Sembawang Engineers and Constructors Pte. Limited has won a contract worth Rs. 614 Crores (S$ 180.6 million) from PUB, the national water agency of Singapore for construction of a new 60 Million Imperial Gallons of Water (MIGD) waterworks at Lower Seletar at the junction of Western Road Link (also known as Seletar West Link) and the Setetar Expressway (SLE). The Company has submitted to BSE a copy of Press Release in this regards.
On September 29, 2010, Punj Lloyd announced that PL Engineering Limited, a Punj Lloyd Group Company has entered into a partnering agreement with Nuvia India Pvt. Ltd, part of Nuvia, a French major providing engineering and technical support for the nuclear power sector.
Entry Filed under: Equity Markets, Engineering
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