Punj Lloyd gains on order win

Punj Lloyd is amongst the top gainers on the bourses currently. The stock is up 6.5% at Rs.26, closer to its intra day high of Rs.26.30. Volumes are around 6.5 lakh shares traded today.

The stock is up after the company announced today morning that it has received a lump-sum turnkey contract for the EPCC package 2 at Haldia Refinery, West Bengal from Indian Oil Corporation (IOC) for a value of Rs 1,094 crore.

The scope of work for project involves the residual process design, detailed engineering including HAZOP study, engineering, procurement, construction and commissioning of the sulphur block comprising sulphur refinery unit, amine regeneration unit, the sour water stripper including utilities and offsite facilities.

The company has said that with this order coming in, its order backlog is at Rs.20,978 crore. The order backlog is the value of unexecuted orders as at 3oth June  2015, plus new orders received after that date.