Punj Lloyd shares in demand on Rs 264 crore airport project

MUMBAI: Shares of Punj Lloyd gained momentum after the company bagged an order worth Rs 264 crore from the Airport Authority of India for building a greenfield airport at Pakyong in Sikkim.

The scope of project includes the construction of runway, taxiway, apron drainage system and electrical-related works for the airport, Punj Lloyd said in a statement to the Bombay Stock Exchange. The project is expected to be completed in two years, it added.

This airport will ensure better connectivity of Sikkim with the rest of the country, Punj Lloyd Group Chairman Atul Punj said. At 1:30 pm, the stock was up 4.54 per cent at Rs 163.50.