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Parsvnath up 10% on land deal speculation

, April 16, 2012, 0 Comments

Shares of Delhi based “Parsvnath Developers” [stockquote]PARSVNATH[/stockquote]  gained over 10 per cent amid speculation that corporate biggies have lined up to acquire its commercial property in central Delhi.

Corporates who are interested includes Sahara Group, ICICI Bank, Bhushan Steel, Bharti Realty, and Shri Lal Mahal, to buy the prime land near Connaught Place in the Capital.

Parsvnath holds 1.18 acre in the area and early this year it has expressed its intention to monetize it. Today’s development holds significance as last week only It got approval for building plan from the local authority.

Parsvnath share closed at Rs 59.55 up 7.78% a share on the NSE.