Punj Lloyd hits 52-week high on heavy volumes

Till 1305 hours, a combined 49 million shares representing 15% stake of infrastructure firm changed hands on BSE and NSE

Punj Lloyd has soared 20% to Rs 57.70, also its 52-week high on BSE, on back of heavy volumes.

Till 1305 hours, a combined 49.37 million shares representing over 15% stake of infrastructure firm changed hands against an average sub 9 million shares that were traded daily in past two weeks on the NSE and BSE.

In past three trading sessions, the stock has rallied 23% compared to 0.62% rise in benchmark S&P BSE Sensex on buzz that the company is selling its stake in Gurgaon-based multi speciality Medanta Medicity Hospitals to cut its debt.