Punj Lloyd surges over 6 per cent as company wins Rs 1,094 crore contract

MUMBAI: Shares of diversified group Punj Lloyd today surged over 6 per cent after the company said it has won a Rs 1,094-crore turnkey contract from Indian Oil Corporation Ltd (IOCL) for work related to Haldia Refinery.

The stock climbed 6.20 per cent to end at Rs 25.70 on BSE. During the trade, it advanced by 8.67 per cent to Rs 26.30.

At the NSE, shares of the company jumped 6.4 per cent to Rs 25.75.

On volume front, 10.66 lakh shares of the company changed hands at BSE and over 34 lakh shares were traded at the NSE during the day.

"The scope of work for the project involves the residual process design... study, engineering, procurement, construction and commissioning of the Sulphur Block comprising the Sulphur Refinery Unit (SRU), Amine Regeneration Unit (ARU), the Sour Water Stripper (SWS) including the Utilities and Offsite facilities," the company said in a statement today.

The project falls under IOCL's prestigious 'Aishwariya' project.