Shares of Punj Lloyd today settled with gains of over 6 per cent after the infrastructure major won four highway projects worth Rs 1,555 crore.
Punj Lloyd has won four highway projects worth Rs 1,555 crore in Bihar, Chhattisgarh, Odisha and Punjab from the central government.
Following the announcement, shares of the company opened at Rs 28.75 on the BSE and touched an intraday high of Rs 31.35. At the end of the trading session, the stock was quoted at Rs 30.50, up 6.09 per cent.
Similar movement was seen on the NSE, where the stock opened at Rs 28.75, touched a high of Rs 31.40 and finally surged 6.09 per cent to end the day at Rs 30.45.
Marketmen attributed the uptick in the counter to the Rs 1,555 crore worth highway contracts.
The engineering, procurement and construction (EPC) projects in Bihar, Chhattisgarh and Odisha have been awarded to Punj Lloyd by the National Highways Authority of India (NHAI) while the order in Punjab has been won from the Ministry of Road Transport and Highways , the company said in a statement.
"Year 2016 will be exciting and will unfold multiple opportunities for Punj Lloyd in the infrastructure segment, both in India and abroad. These orders...Are a strong attestation of Punj Lloyd's delivery in infrastructure," said Shantanu Karkun, President and CEO, Buildings and Infrastructure Punj Lloyd.
