In 2019, ICICI Bank had dragged Punj Lloyd to the NCLT after it defaulted on loan repayments worth Rs 800 crore
Punj Llyod's Q4 net profit soared to Rs 268 crore compared to Rs 5 Lakh but total income fell to Rs 1,290 crore from Rs 2,037 crore on a yearly basis. Its other income grew to Rs 570 crore to Rs 11 crore (Y-o-Y).
Nooresh Mirani of Analyse India suggests buying Punj Lloyd for a target price of Rs 34 and Jyoti Structures for a target price of Rs 35.
The market is slowly picking up steam on strength in FMCG and metal stocks. The Sensex is up 92.72 points at 19256.74, while the Nifty adds 24.05 points at 5701.95. About 871 shares have advanced, 901 shares declined, and 115 shares are unchanged.
Idea Cellular | Reliance Communications | Glenmark Pharma | Timken India | Power Grid | State Trading Corporation | ITDC | Neyveli Lignite | Hero Motocorp | IOC | Ashok Leyland and Jet Airways are stocks, which are in the news today.
It was a volatile day on the Dalal Street as the markets turned around in late trade. Indices closed flat after a weak start. The Nifty closed just shy of 5,900 and the Sensex ended at 19,468.
Prabhudas Lilladher has come out with its report on construction space. The research firm remains ‘Neutral’.
In a fresh blow for Punj Llyod, a big ticket ONGC contract appears to be slipping out of its hands, with the Bombay High Court dismissing their plea, reports CNBC-TV18's Ashmit Kumar.
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The Supreme Court would start its final hearing on the USD 125 million ONGC contract for laying offshore pipelines along the country's west coast in the first week of July.