Institutional investor has bought over 2 million equity shares of Punj Lloyd for Rs 11.5 crore through open market. On June 18, 2014 Canara HSBC Oriental Bank of Commerce Life Insurance Company has purchased 2.2 million shares of the company at a price of Rs 52.05 per share. However, name of the sellers not disclosed.
HSBC Oriental Bank of Commerce Life Insurance Company is jointly owned by two of the country’s largest public sector banks - Canara Bank and Oriental Bank of Commerce and HSBC Insurance (Asia Pacific) Holdings, the Asian insurance arm of one of the world's largest banking and financial services groups - HSBC.
Punj Lloyd provides engineering, procurement, construction (EPC) and project management services. It provides services to oil and gas, energy, infrastructure petrochemical, telecom broadband and utilities sectors, among others.
