Shares of Parsvnath Developers surged by over 8 per cent in the morning trade on the BSE today amid media reports that the company plans to pay about Rs 340 crore to Rail Land Development Authority for the land deal that it clinched late last year.
The scrip of the realty player shot up by 8.39 per cent to Rs 36.80 on the Bombay Stock Exchange. In a similar fashion, the stock zoomed by 8.24 per cent to a month high at Rs 36.75 on the National Stock Exchange.
On the volume front, over 23 lakh shares of the company were traded on the two bourses within the first two hours of trade.
During the noon session, the scrip was trading up by 6.19 per cent at Rs 36.05 on both the BSE and NSE.
The company has achieved financial closure for the amount and intends to hand over the payment next week, the report said.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.