Out of the 4 Pressurized Heavy Water Reactors (PHWR), two are located at Kakrapara Atomic Power Project, KAPP 3&4 near Surat in Gujarat and the other two are at Rajasthan Atomic Power Project, RAPP 7&8 near Kota in Rajasthan.
Punj Uoyd Group, a diversified global engineering, procurement and construction (EPC) conglomerate, today announced winning an EPC Nuclear Power contract from NPCSL worth Rs. 6.78bn for critical nuclear piping work at four Pressurised Heavy Water Reactors (PHWR) of 700 MWe (Mega Watt electric) each.
The scope of work includes engineering, procurement, erection and commissioning of nuclear equipment and piping for all the systems inside the nuclear reactor buildings. Out of the 4 Pressurised Heavy Water Reactors (PHWR), two are located at Kakrapara Atomic Power Project, KAPP 3&4 near Surat in Gujarat and the other two are at Rajasthan Atomic Power Project, RAPP 7&8 near Kota in Rajasthan. The contract is scheduled to be completed in four years.
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On winning the contract, Atui Punj, Chairman, Punj Lloyd, said: "This is a significant win which has opened new avenues for the Group in the booming nuclear power sector. With the government's ambitious nuclear power target of achieving 63,000 MWe by 2032, the sector in India is poised for robust growth in the future. This contract will place us in the select league of EPC contractors having nuclear power project execution capabilities, strengthening our position both nationally and internationally."
Our Group Company, PL Engineering is also working on NPCIL's Rajasthan Atomic Power Project, RAPP 7&8. The company is carrying out detailed design and engineering for Balance of Plant. Simon Carves, another Group Company has been actively engaged in the nuclear industry since the 1950's, delivering some of the world's first nuclear power facilities. The company has provided services in the design and construction of associated nuclear process facilities in areas such as enrichment, fuel fabrication, new build and decommissioning including waste treatment. The company was involved in some nuclear power projects in the UK, which include New Fuel Oxide Plant, Vitrification Plant and Refurbishment South Dissolver Cell.
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With this latest contract, the order backlog for the Punj Lloyd Group on a consolidated basis has gone up to Rs. 24, 373 crore. This is the total value of unexecuted orders as on March 31, 2011, and new orders received after that day.
Various brokerage houses targets after Q4FY11 Results:
- Angel Broking NEUTRAL Rs. --/-
2. Emkay Hold Rs.91/-
Unresolved issues and Concerns persist, Retain HOLD rating with target price of Rs91/Share
3. KOTAK REDUCE Rs.68/-
We maintain REDUCE rating on the stock
4. Prabhudas Lilladher Accumulate Rs.63/-
5. Sharekhan REDUCE Rs.65/-
We maintain our Reduce rating on the stock and keep our target price under review till some stability emerges.
6. CITY REDUCE Rs.60/-
Some one saying to buy and some one saying to sell, are you confused?
Let’s take the opinion of the leading brokerage houses so that you can get the some idea about the stock. The only one who is very aggressive target is Emkay who is always does the same for punj. All other houses targets almost same and have maximum of 10% difference.
From last six quarters Punj Lloyd disappointed all, Q4FY11 is the first one to wipe out investors tears. The stock badly hit in the above said period and the bottom is very near to the CMP for the stock. This is the indication that downside is limited in this stock. The stock rallied against the market conditions after the announcement of the last quarter results which surprised the small investors a lot and those shorted in the Futures loosed their money. Yesterday too the stock rallied strongly despite the falt broader market. The main reason for this rally is not the long positions or fresh buying “It is only because of the short covering”. After the order announcement the shorts created are forced to unwind their positions and resulted in to the sharp bounce in the future price.
On 8-06-11 the OI is at 29126000 when the share price is at Rs.64.95/- with a market wide position limit at 70% and whereas on 13-06-2011 the OI is at 23178000 means a cut of 5948000 and the MWP Limit came down to 55% with a price up to Rs.71.35/- which is a clear indication of the short covering which is ramp up after the order announcement on 13-06-11.
What to expect from this stock in the short term?
No fresh long positions seen in this counter right now and no fresh buying happening in the cash market also. Hence, traders need not to run for the stock right now! Similarly stock is showing huge resilience hence one should not go for the fresh shorting also. Short term investors and traders should need to have a close look on this counter. Long term investors can take the positions even at the current levels.
With thanks
Be and make
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