In its latest research report, Nirmal Bang, an equity research firm said that Punj Lloyd can give good returns in 3-4 trading sessions.

According to Nirmal Bang Research, interested traders can buy the stock with a strict stop loss of Rs 217 to attain a target between Rs 250 –Rs 275.

The report further added that the stock, which has been witnessing huge buying from the last few days, has strong resistance at Rs 235.

Today (July 22), the shares of the company opened at Rs 232.50 on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 10.58 & 22.56 respectively. The share price has seen a 52-week high of Rs 316.80 and a low of Rs 66.65 on BSE.

Delhi-based Punj Lloyd, on July 20, said that it is planning to lift around $125-150 million by placing fresh equity with institutional buyers to withdraw part of its high-cost arrears and infuse liquidity.

Punj Lloyd’s board has already sanctioned the move and its stockholders are likely to give their nod for fund-raising during a meeting on July 28.

Punj Lloyd, on July 10, announced that Sembawang Libya General Contracting and Investment Company, a division of the Company in Libya has pocketed 3 projects from International Investment and Services Company to set up commercial as well as residential developments in Libya worth Rs 59.04 billion.

The largest of the three agreements is the turnkey project to build up Al-Mea`tega Resort Village, a lavish villa resort situated on a 40-hectare location on the Mediterranean Coast beside the domestic airport in Tripoli.

On July 09, Dayim Punj Lloyd, a JV between Punj Lloyd and Prince Khalid Bin Bandar Bin Sultan (KBS), Kingdom of Saudi Arabia, has pocketed a deal valued at Rs 12.10 billion.

The scope of the projects includes engineering, procurement and construction (EPC) of port tank farm of the Jubail Export Refinery project in Saudi Arabia.