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15-Mar2019

Punj Lloyd touches roof on wining arbitration award worth Rs 34 crore

Punj Lloyd is locked at upper circuit limit of Rs. 2.54, up by 0.12 points or 4.96% from its previous closing of Rs. 2.42 on the BSE.

The scrip opened at Rs. 2.54 and has touched a high and low of Rs. 2.54 and Rs. 2.54 respectively. So far 93917 shares were traded on the counter.

The BSE group 'T' stock of face value Rs. 2 has touched a 52 week high of Rs. 20.00 on 06-Apr-2018 and a 52 week low of Rs. 1.35 on 19-Feb-2019.

Last one week high and low of the scrip stood at Rs. 2.71 and Rs. 2.24 respectively. The current market cap of the company is Rs. 85.24 crore.

The promoters holding in the company stood at 25.45%, while Institutions and Non-Institutions held 6.59% and 67.96% respectively.

Punj Lloyd has won an arbitration award worth over $4.98 million (about Rs 34 crore) with respect to a project in Maharashtra. The arbitration award pertained to Heera Redevelopment Project. 

The Arbitration Tribunal in the matter of Punj Lloyd & Anr vis Oil & Natural Gas Corporation in respect of Heera Redevelopment Project, has given an award in favor of Punj Lloyd for an amount of $4,985,866.37 with interest at 9 percent p.a. from due date till the date of payment/ realization.

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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