Equity Alert: Punj Lloyd up on $108-mln order win from Spanish co
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K.Karthik Raja
Jul 18, 2008, 4:33:19 AM7/18/08
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Equity Alert: Punj Lloyd up on $108-mln order win from Spanish co
MUMBAI--12:38PM--Punj Lloyd shares rose nearly 2% to 214 rupees on
news the company has won a $108-mln (4.62 bln rupees) order from
Spain's Tecnicas Reunidas
The stock looks strong on the charts and can touch 221 rupees
intraday, but faces intermediate resistance at 218 rupees. He said
support is likely at 209 rupees.
"The order is not that substantial an addition to their order
book, which is about 200-odd bln rupees. But we are positive on the
stock, expecting strong growth,"
So far on NSE, 2.15 mln shares of the company have been traded.
Its July futures contract was trading at par to spot, with 1.3% fall
in open interest.
MUMBAI--12:38PM--Punj Lloyd shares rose nearly 2% to 214 rupees on
news the company has won a $108-mln (4.62 bln rupees) order from
Spain's Tecnicas Reunidas
The stock looks strong on the charts and can touch 221 rupees
intraday, but faces intermediate resistance at 218 rupees. He said
support is likely at 209 rupees.
"The order is not that substantial an addition to their order
book, which is about 200-odd bln rupees. But we are positive on the
stock, expecting strong growth,"
So far on NSE, 2.15 mln shares of the company have been traded.
Its July futures contract was trading at par to spot, with 1.3% fall
in open interest.
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