Punj Lloyd zooms 14% on bagging orders worth Rs 1,453 cr from GAIL and NHAI
Punj Lloyd shares surged nearly 14 percent in morning Wednesday on receiving orders from GAIL India for construction of pipeline and NHAI for road project.
“Laying & construction of steel pipeline along with associated facilities for Dhamra-Angul Section of Jagdishpur-Haldia-Bokaro-Dhamra Pipeline Project (JHSDPL) PH-II worth Rs 276.11 crore awarded by Gail (India),” the engineering and construction company said in its filing.
In statement the company further said it has bagged order from National Highway Authority of India for upgradation of Yargi-Kalewa Road section in Myanmar to two lane with Earth shoulders on EPC mode, worth Rs 1,177 crore.
The road project in Myanmar is in joint venture with Varaha Infra.
At 9:52 hours IST, the stock price was quoting at Rs 22.70, up 10.46 percent on the BSE.