Punj Lloyd surges 4% on Rs 367 crore order win from IOC

NEW DELHI: Shares of capital goods and defence equipment manufacturer Punj Lloyd jumped 3,9% per cent on Thursday and the day on 27.95 after the company informed the bourses that it has bagged a Rs 367 crore worth EPCC contract from Indian Oil Corporation at Paradip Refinery, Odisha.

The scope of the work involves residual basic engineering, including HAZOP study, detailed engineering, procurement, construction and commissioning of the coker LPG treating unit and offsite and utility facility," the company said in a filing to BSE.

"The first order being executed for IOC at Paradip comprises 12 process units on an EPC basis, which is now in the final stages of completion," said Amit Gupta, President & CEO, process, Punj Lloyd.

The conglomerate is already working EPCC package 2 at Haldia Refinery in West Bengal of IndianOil for the sulphur block.