Punj Lloyd advanced 3.62% to Rs 52.95 at 15:06 IST on BSE after the company received a letter of award for expansion and revamping of Ahmadi Depot, Kuwait from Kuwait National Petroleum Company.
The company made the announcement during trading hours today, 1 July 2014.
Meanwhile, the BSE Sensex was up 155.11 points, or 0.61%, to 25,568.89
On BSE, so far 6.95 lakh shares were traded in the counter, compared with an average volume of 20.47 lakh shares in the past one quarter.
The stock hit a high of Rs 53.65 and a low of Rs 50.50 so far during the day. The stock hit a 52-week high of Rs 60.85 on 19 June 2014. The stock hit a record low of Rs 20.25 on 4 September 2013.
The scrip had outperformed the market over the past one month till 30 June 2014, rising 23.88% compared with 4.94% rise in the Sensex. The stock outperformed the market in past one quarter, gaining 87.52% as against Sensex's 13.76% rise.
The small-cap diversified global engineering, procurement and construction (EPC) conglomerate has an equity capital of Rs 66.42 crore. Face value per share is Rs 2.
Punj Lloyd said the company has received a letter of award for expansion and revamping of Ahmadi Depot, Kuwait from Kuwait National Petroleum Company (KNPC). This project is valued at Rs 1418 crore and is scheduled for completion in 35 months. Punj Lloyd said that Kuwait is the latest addition to the company's geographical presence, bringing its global operations to 24 countries.
The scope of work involves the design, engineering, procurement, construction and commissioning of 11 new floating roof product tanks with a capacity of around 228,000 cubic meters. It also includes allied civil work, interconnecting piping, construction of multi-product loading points, sub station with all electrical systems including emergency power supply and control building besides replacement of depot automations systems, integration to the new tank gauging system, up-gradation of existing Vapour Recovery Unit, cathodic protection system with remote monitoring, fire protection system and all utility packages, Punj Lloyd said.
With this new order, the group's order backlog stands at Rs 22063 crore. The order backlog is the value of unexecuted orders on 31 March 2014 plus new orders received after that date.
On a consolidated basis, Punj Lloyd reported net loss of Rs 382.08 crore in Q4 March 2014 as against net profit of Rs 15.31 crore in Q4 March 2013. Net sales declined 25% to Rs 2359.39 crore in Q4 March 2014 over Q4 March 2013.
Punj Lloyd is a diversified international conglomerate offering EPC services in energy and infrastructure along with engineering and manufacturing capabilities in the defence sector.
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