There are so many problems hitting one after other. When markets are good then punj is suffering with poor results and low order intake. When order book increased in the last couple of quarters then the markets are very weak. In the last quarter, when all were thought that the worst is over for this stock and they are likely to come with good set of numbers and Punj Lloyd disappointed again.
Now, the bad news from the Libya side! Punj has the order book almost 37% from the Libya which is not picked up yet due to the design problems. Because of the Libya geopolitical problems there are question about the execution of these orders. So, more bad news on the execution side in the near term.
From share market point view, the stock is tumbled a lot and big goons exiting this stock. One of Indian successful investor Rakesh Jhunjhunwala exited his major chunk yesterday. He holds 37.9 lakh shares @ 178/- in Punj Lloyd and yesterday he exited 26.5 lakh shares @ 65.75/-.
So, more bad news for this stock ….
Be and make