Punj Lloyd forms JV to enter aerospace sector; stock down

PL Engineering, a Punj Lloyd Group company, has signed joint venture agreement with GECI Transportation and Engineering, a subsidiary of French company GECI International. The JV firm will focus on providing services to the growing Indian aerospace sector on supporting activities in Europe.

Shares of Punj Lloyd were at Rs 65.30, down 4.60 per cent on the NSE. It touched a high of Rs 71.90 and low of Rs 62.80 intraday.