Shares of Parsvnath Developers today surged by over 8% in the morning trade on BSE 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% to Rs 36.80 on the Bombay Stock Exchange (BSE).
In a similar fashion, the stock zoomed by 8.24% to a month's 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 2 hours of trade.
The company has achieved financial closure for the amount and intends to hand over the payment next week, the report said.
Meanwhile, the BSE 30-share index Sensex was trading 192.80 points up at 18,360.44 level at 11:13 hrs.
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