Stock analysts have maintained 'Buy' rating on Punj Lloyd Ltd stock to achieve an intra-day target that lies between Rs 118-126.

According to them, interested day traders can buy the stock above Rs 118 with a stop loss below Rs 112.

Shares of the company, on Friday (April 24), closed at Rs 116.10 on the Bombay Stock Exchange (BSE). The share price has seen a 52-week high of Rs 384.50 and a low of Rs 66.65 on BSE. Current EPS and P/E of the stock stood at 112.89 & 9.20 respectively.

So buy it, it will prove that it's definitely a strategic stock.

With the aim to lessen costs amid worldwide economic slump, Punj Lloyd is shifting its employees from its UK-based division to India, mainly to its Delhi and Hyderabad centers.

Pinning anticipations on infrastructure growths in Asia, Punj Lloyd has decided to employ more than 2,000 persons in the fiscal with special concentration on its centers in Asian countries, including India, Singapore and Abu Dhabi.

Moreover, SCL, a wholly owned UK arm of Punj Lloyd had been granted a contract in 2006 to design, construct and pre-commission a low-density polyethylene facility in the UK by SABIC UK Petrochemicals Ltd. Afterward, SABIC UK cancelled the deal and forwarded to Simon Carves Ltd.

SCL had approached the adjudicator over the annihilation of a deal awarded.

According to Punj Lloyd, SABIC had terminated this contract before its settled conclusion date and therefore it decided to look for the views of an adjudicator with regard to the grounds upon which SABIC ended the contract.

The third party arbitrator has not ruled on the side of SCL. Accordingly, Punj Lloyd has decided to challenge the decision of a third-party arbitrator in the UK and will exercise its right to have all the issues that were heard by the adjudicator, reviewed by the court.

Punj Lloyd, on April 16, declared that it has pocketed 3 projects worth Rs 3.08 billion from Bangalore Metro Rail Corporation for building of eight elevated metro stations in Bangalore.

The listed time for finishing of each of these three contracts is 22 months.

With this, the order build up for the company on a consolidated basis has climbed up to Rs 244.92 billion. This is the total value of the unexecuted orders as on Dec. 31,
2008 and the value of orders bagged after that date. It also consists of the Group's recent orders for oil & gas in India worth Rs 2.75 billion.