Punj Lloyd zooms on entering into collaboration with Israel Weapon Industries

05 May 2017

Punj Lloyd is currently trading at Rs. 23.75, up by 0.70 points or 3.04% from its previous closing of Rs. 23.05 on the BSE.

The scrip opened at Rs. 23.20 and has touched a high and low of Rs. 24.20 and Rs. 23.10 respectively. So far 603229 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 28.30 on 15-Sep-2016 and a 52 week low of Rs. 16.90 on 09-Nov-2016.

Last one week high and low of the scrip stood at Rs. 24.20 and Rs. 21.70 respectively. The current market cap of the company is Rs. 801.24 crore.

The promoters holding in the company stood at 35.91%, while Institutions and Non-Institutions held 8.45% and 55.64% respectively.

Punj Lloyd has reportedly entered into collaboration with Israel Weapon Industries (IWI) to manufacture small weapons under a complete technology transfer arrangement. This is the first opportunity for the country to get its own ‘Made in India’ small arms. The need of the hour is to replace the country’s defence weapons with sophisticated and high precision products.

The plant will manufacture small weapons like the Tavor assault rifle with bullpup configuration. This is already in use by special forces in the country.

Punj Lloyd is a diversified international conglomerate offering EPC services in Energy and Infrastructure along with engineering and manufacturing capabilities in the Defence sector.

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