Punj Lloyd, a leading engineering procurement and construction (EPC) and project management services company, has decided not to pursue the ground handling opportunities in the Indian aviation sector with Swissport International, and has agreed to terminate the Joint Venture.

The company had entered into a JV with Swissport International in June 2006 to develop projects in the Indian cargo and ground handling sector. 

However, as various options available in India's ground handling business are currently undergoing dynamic changes, Punj Lloyd is seeking to redefine its options and opportunities in the Indian market and to do so.

The Punj Lloyd scrip is certainly a good buy because the overall outlook being very good as the company has diversified into various projects in the global market. So, from a long-term perspective, it is definitely a good hold. 

Interested investors can pick this stock at current level but only in small lots, so that if the stock decline in short-term, they can average it out.