Indian engineering and construction company, Punj Lloyd Limited has informed that PT Punj Lloyd Indonesia and Punj Lloyd Pte Ltd, Singapore, wholly owned subsidiaries of the Company have been awarded an EPC project for 2x30 MW Coal Power Plant in Kalimantan Island, Indonesia for a consolidated value of Euro 52 Million (approx Rs 330 crores) by PT Makmur Sejahtera Wisesa, Indonesia.

PT Punj Lloyd Indonesia has been awarded the Construction Services Contract and Punj Lloyd Pte Ltd has been awarded the Equipment Supplies Contract.

Shares of the company slipped Rs 3, or 1%, to settle at Rs 365. The total volume of shares traded was 663,443 at the BSE on Wednesday. The stock has been among the worst hit counters after the stock market crash in January this year. The stock is fundamentally strong but the trader sentiment has been dampened due to higher P/E for the stock. One can expect decent returns from the company over a long period of 2 – 3 years.

This stock was among most recommended stocks by Technical Analysts in second half of year 2007.