Punj Lloyd hits 52-week high

MUMBAI, June 18 (Business Standard): Punj Lloyd has soared 20 per cent 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 per cent 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 per cent compared to 0.62 per cent 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.