Punj Lloyd, engaged into engineering, procurement and construction (EPC), witnessed a rise in share price on Friday after it announced that Foreign Investment Promotion Board (FIPB), Department of Economic Affairs, Ministry of Finance, and Government of India has approved the proposal of the company to manufacture equipment systems and associated assemblies for the defence sector.

Shares of Punj Lloyd are trading at Rs 39.30, up Rs 3.85, or 10.86% at the Bombay Stock Exchange (BSE) on Friday at 10:23 a.m.

The scrip has touched an intra-day high of Rs 40.05 and low of Rs 38.05. The total volume of shares traded at the BSE is 787,805.