Punj Lloyd bagged an EPCC contract from Indian Oil Corporation
After bagging a contract form Indian Oil Corporation worth Rs 367 crore, the shares of Punj Lloyd rose 5.02% to Rs 28.25 on Bombay Stock Exchange. This news was announced during peak hours of the day on October 15, 2015. BSE Sensex was recorded 147.86 points to 26,927.52 during the same day.
It’s an Engineering Procurement Construction and Commissioning (EPCC) Contract, which will commence its operation function at Paradip Refinery in Odisha.
Residual Basic Engineering will be the key function area of the Punj Lloyd. It will include HAZOP study, detailed EPCC of the Coker LPG Treating Unit and offsite & utility facility.
Paradip Refinery is situated on the east shoreline of India, 5 kilometer from Paradip Port, in Odisha. The site is covering up to 3344 acre of land which is almost 90 km by road from Cuttack and approx 120 km from Bhubaneswar.
Punj Lloyd is a broadened worldwide conglomerate offering EPC services in infrastructure and energy along with additional engineering and manufacturing services in the defence sector. 7.49 lakh shares were traded on BSE so far as compared to its average trading volume of 7.55 lakh shares during the last quarter. The stock hit intraday high of Rs 28.70 and intraday low of Rs 27.10 on the same day.
Stock outperformed the market since the last month till October 14, 2015. The stock rose 12.08% as compared to Sensex which rose to 3.57%. The small-cap company has an equity capital of Rs 66.42 crore and Face Value of Rs 2 per share.
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