Punj Lloyd surges on bagging Rs 1,270 crore expressway project in Yemen

Punj Lloyd is currently trading at Rs 29.75, up by 0.80 points or 2.76% from its previous closing of Rs 28.95 on the BSE. The scrip opened at Rs 29.25 and has touched a high and low of Rs 30.60 and Rs 28.90 respectively. So far 765055 shares were traded on the counter. The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 57.80 on 09-May-2013 and a 52 week low of Rs 20.25 on 04-Sep-2013. Last one week high and low of the scrip stood at Rs 33.35 and Rs 28.80 respectively. The current market cap of the company is Rs 989.65 crore. The promoters holding in the company stood at 37.23%, while Institutions and Non-Institutions held 17.29% and 45.49% respectively. Diversified global EPC conglomerate, Punj Lloyd, has received a Letter of Award for the construction of 42 km, 2x3 lane dual carriageway project between Doraigh and Noubat Dokaim from Ministry of Public Works & Highways, Republic of Yemen. This project, valued at Rs 1,270 crore ($211.41 million), is funded by Saudi Development Fund (SDF). Located 60 km from the port city of Aden, the scope of work for this project comprises construction of 210 lane-km new carriageway greenfield project. The work involves excavation of over 10 million cubic meter, road paving, surface sealing, two major concrete overpass bridges, box & pipe culvert construction and associated infrastructure work. Punj Lloyd provides engineering, procurement, construction (EPC) and project management services. It provides services to oil and gas, energy, infrastructure petrochemical, telecom broadband and utilities sectors, among others.