Punj Lloyd is top gainer

Punj Lloyd is the top gainer on the BSE currently. Intra day, the stock rose almost 9% to Rs.26.15 and is currently at Rs.26 levels. Volumes are also robust, up over 1.5 times.

The stock is up in the green after the company announced that its 50:50 JV with Limak won the Rs.2780 crore Trans Anatolian Natural Gas Pipeline Project (TANAP) gas pipeline contract in Turkey.

The company has stated that this pipeline will be built to transport natural gas emanating from the South Caucasus Pipeline Company (SCPC) pipelines in Georgia and terminating into the Trans Adriatic Pipeline (TAP) in Greece. With this win, the Group’s order backlog stands at Rs 23,228 crore. The order backlog is the value of unexecuted order on September 30, 2015 plus new order received after that date.