Punj Lloyd stock up 5.5% on Libya plan

Shares of Punj Lloyd rose as much as 5.5 percent after the Libyan leader Muammar Gadaffi and the president of the Arab League agreed to a peace plan to end the crisis there from Venezuela’s President Hugo Chavez to end the crisis in the North African country,three dealers said.

The company holds an order backlog of 35 billion rupees in Libya and the country accounts for about 14 percent of its total order book.

At 11:43 a.m.,shares were up 5.2 percent at 66.60 rupees.