Punj Lloyd down 30% in last 2 weeks

Punj Lloyd has come down 30% in last 2 weeks. Citi downgraded the stock to sell in January with target of Rs 85. The company has 67% of the orders from oil & gas sector. Its problems with SABIC continues. The company wrote off Rs 210 crore towards cost over-runs in SABIC project.

Punj Lloyd touched a 52 week low of Rs 66.65 in today’s trade. The stock touched an intra day high of Rs 71.75 and an intra day low of Rs 66.65 and at 12:47 PM, the share was quoting at Rs 70.30, up Rs 0.20, or 0.29%, trading with volumes of 837,531 shares, compared to its 5-day average of 1,439,984 shares, an decrease of -41.84%. Yesterday the share closed down 3.38% or Rs 2.45 at Rs 70.10.

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