Punj Lloyd To Produce Small Arms In MP, In JV With Israel Weapon Industries

Following the inauguration of Punj Lloyd’s small arms manufacturing plant at Malanpur in Madhya Pradesh on May 4, 2017, the stock price of the company surged on the bourses.

The new manufacturing unit will be functional under the ambit of the joint venture between the companies wholly owned subsidiary Punj Lloyd Industries and Israel Weapon Industries, according to the company’s media release. Th company’s venture will be the maiden opportunity for the country to produce small arms in India.

At 10:00 hrs IST, the stock of Punj Lloyd was trading at Rs 24, up by 4 per cent on the BSE on May 5, 2017. The stock had opened at rs 23 on the same day.

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