Punj Lloyd sees yesterday's massive gains whittled down

Shares of infrastructure major Punj Lloyd fell by over 5 % in early trade on the bourses today, reversing their stellar performance in the previous session. Shares of the company saw profit-booking and slid to an early low of Rs 64.60, down 5.2 % from the previous close, on the BSE.

Shares of infrastructure major Punj Lloyd fell by over 5 % in early trade on the bourses today, reversing their stellar performance in the previous session. Shares of the company saw profit-booking and slid to an early low of Rs 64.60, down 5.2 % from the previous close, on the BSE.

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In a similar fashion, the stock dropped by 5.35 % to a low of Rs 64.50 on the NSE. In the previous trading session, the stock rallied by 17.5 % on the BSE after the company reported a consolidated net profit of Rs 18 crore for the quarter ended March 31, 2011.

Punj Lloyd had reported a net loss of Rs 302 crore in the corresponding quarter last fiscal. Meanwhile, the broader market bellwether Sensex was trading at 18,557.92, up 54.64 points, at 1120 hours.