MUMBAI: Anand Rathi Securities is of the opinion that Punj Lloyd's third quarter performance is set to surprise positively, however, its risk-reward ratio is still unfavourable. Hence, the brokerage has recommended investors to sell the stock on the expected rally.

"Punj Lloyd's order backlog fro..

Target price: Rs 294

Punj Lloyd has been seeing significant decline in order intake, which is now picking up.

Further, the key pressure point for the company in FY2009 was the poor performance of its subsidiary (Simon Carves) for which the management is taking steps by reducing cost and enhan..

Punj Lloyd touched an intraday high of Rs 248.50 and an intraday low of Rs 243.40. At 11:49 am, the share was quoting at Rs 246.55, up Rs 5.25, or 2.18%.

The company has bagged order worth Rs 167 crore from GAIL.

It was trading with volumes of 2,111,813 shares. On Friday the share closed up 3..