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Punj Lloyd to sell stake in Medanta Medicity: Report

02 Sep 2014 Evaluate

In a bid to cut its debt, Punj Lloyd is reportedly planning to sell its stake in Gurgaon-based multi specialty hospital Medanta Medicity Hospitals. The company will sell half of its 17% shareholding in Global Health, a company which owns, manages and operates the Gurgaon based hospital for around Rs 300 crore.

Moreover, Singapore’s state investment company – Temasek -- is negotiating with the company to buy its minority stake in super specialty hospital -- Medanta Medicity.

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.

Peers
Company Name CMP
Larsen & Toubro 3661.80
Kalpataru Projects 1414.10
NCC 124.50
Rail Vikas Nigam 196.85
KEC International 357.50
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