Rajen Shah positive on Punj Lloyd

Rajen Shah, CIO Angel Broking is positive on Punj Lloyd.

Shah told CNBC-TV18, "Punj Lloyd certainly looks very interesting at the current marketcap of about Rs 1,850 crore. It is turning around and this time the turnaround is going to be for real. Even in the first nine months, we have seen reasonably fine performance on the topline though the bottomline has been a little disappointing.”
He further added, “However, at about Rs 55 levels, the stock certainly looks interesting because the kind of order book position they have almost about Rs 24,000 crore that is also likely to improve in the coming quarters. So, we would be positive on Punj Lloyd.”
“A lot of names in the infrastructure space are looking very interesting like HCC also was looking very interesting at marketcap of about Rs 850 crore with order book position of more than Rs 15,000 crore. So these all companies need to be accumulated at these prices for long-term gains."