Punj Lloyd is currently the top gainer on the BSE, up 9% at Rs.38.80, with an intra day high at Rs.40.05. Volumes are up almost 2 times.

The stock is on the rise today after Foreign Investment Promotion Board (FIPB), Department of Economic Affairs, approved the proposal of the company for manufacturing of equipment systems and associated assemblies for the defence sector. As per this approval, foreign equity participation in the Company including FDI & Investment by FII/FPI/FVCI/QFl/NRI through portfolio investment have been capped at 32.99% of the paid-up equity capital of the company.