Punj Lloyd, engaged into engineering, procurement and construction (EPC), surged on Tuesday after it has received a letter of award for expansion and revamping of Ahmadi Depot, Kuwait from Kuwait National Petroleum Company (KNPC) worth Rs 14.18 billion (USD 236.09 million).

This order is scheduled for completion in 35 months. Kuwait is the latest addition to Punj Lloyd's geographical presence, bringing its global operations to 24 countries.

Shares of the company are trading at Rs 53.40, up Rs 2.35, or 4.60% at the Bombay Stock Exchange (BSE) on Tuesday at 1:37 p.m.

The scrip has touched an intra-day high of Rs 53.65 and low of Rs 50.50. The total volume of shares traded at the BSE is 611,783.