Punj Lloyd jumps on plan to sell stake in Medanta Medicity by year-end

01 Dec 2014

Punj Lloyd is currently trading at Rs. 38.30, up by 2.00 points or 5.51% from its previous closing of Rs. 36.30 on the BSE.

The scrip opened at Rs. 36.60 and has touched a high and low of Rs. 39.40 and Rs. 36.20 respectively. So far 641239 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 60.85 on 19-Jun-2014 and a 52 week low of Rs. 24.90 on 30-Jan-2014.

Last one week high and low of the scrip stood at Rs. 38.60 and Rs. 35.45 respectively. The current market cap of the company is Rs. 1283.55 crore.

The promoters holding in the company stood at 37.15 % while Institutions and Non-Institutions held 13.64 % and 49.22 % respectively.

In a move to reduce Rs 6,000 crore debt, Engineering and construction major Punj Lloyd will finalise its stake sale in Gurgaon-based hospital Medanta Medicity by December-end. Punj Lloyd plans to sell half the stake in Medanta Medicity, which is a multi-super speciality institute.

In the year so far, the company has acquired orders worth around Rs 11,000 crore and is also eyeing opportunities in the upcoming metro projects.

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. The company has reported net loss of Rs 263.51 crore for the quarter ended September 30, 2014 as compared to a net profit of Rs 1.60 crore for the same quarter in the previous year.

Related Punj Lloyd Ltd. Links:

Punj Lloyd Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323
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