Stone India gains on JV with Chinese firm for elevators

The company plans JV with Shenyang Brilliant Elevator for elevators

Shares of Stone India were up nearly 3% at Rs 91 after the company said it has entered into an joint-venture agreement with Shenyang Brilliant Elevator Group Co. Ltd., China on December 15, 2015.

The joint venture company will undertake the business of manufacture and sale of elevators in India with technology from the Chinese firm, Stone India said in a release.

The stock opened at Rs 91 and touched a high of Rs 95. At 2:50pm, over 120,000 shares were traded on the Bombay Stock Exchange.