Home >Market >Stock-market-news >Punj Lloyd shares fall 5.8% after UK court order

New Delhi: Engineering and construction firm Punj Lloyd fells as much as 5.8% to a record low on Thursday after an UK on Wednesday ordered a company unit to pay $26.2 million to International Finance Corp for their claims.

Punj Lloyd shares fell 5.19% to 19.20 on BSE at 1:07PM.

The company said in BSE filing that it is considering various legal options and shall take appropriate steps. “The company and its subsidiary, Punj Lloyd Upstream Limited (PLUL) have been ordered to pay by the High Court of Justice, Queen’s Bench Division, Commercial Court, UK sum of $26,173,659.16 (plus summary assessment costs amounting to £75000), to IFC, towards their claims," the filing said.The company however did not disclose details of the case.

Punj Lloyd posted a net loss of 467.99 crore on a standalone basis for the March quarter on a sharp decline in income. For the entire year, its net loss on a consolidated basis stood at 2,245.34 crore after taxes, minority interest and share of profit/loss of associates as against 1,141.11 crore in 2014-15.

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