Punj Lloyd is a big gainer on the bourses today. It opened at its intraday high of Rs.21.20, up over 7.5% and is now at Rs.20.70 levels, up some 5%.

The stock is in the limelight, reacting to its announcement that its subsidiary, Pt Engineering has sold off its entire stake in the UK based, Simon Carves Engineering. This was sold to E Engineers and Constructors International, Inc, for a cash consideration of $2 million.

Simon Carves Engineering contributed 1.73% of the total income of Punj Lloyd during the last financial year.

Whatever way funds make way to Punj Lloyd is good for the company as it continues to grapple with huge losses. It had ended Q4FY17 with net loss of Rs.468 crore. The company is scheduled to announce its Q1FY17 performance on 10^th August.