Punj Lloyd to produce small arms in JV with Israel Weapon Industries
DSIJ Intelligence / 05 May 2017
The inauguration of Punj Lloyd’s small arms manufacturing plant at Malanpur in Madhya Pradesh on May 4, 2017, saw the stock price of the company surging on the bourses.
The inauguration of Punj Lloyd’s small arms manufacturing plant at Malanpur in Madhya Pradesh on May 4, 2017, saw the stock price of the company surging on the bourses.
The new manufacturing unit will be functional under the aegis of the joint venture between Punj Lloyd Industries and Israel Weapon Industries (IWI), according to the company’s media release. The JV, a wholly-owned subsidiary of Punj Lloyd and IWI, will produce small arms and it will be a maiden opportunity for the country to produce small arms in India.
The stock of Punj Lloyd opened at Rs 23 on the BSE on May 5, 2017 and was trading at Rs 24 intra-day, up by 4 per cent.
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