Sanghi Industries, the cement manufacturer in India, witnessed a sharp rise in share price on Friday after according to reports, Piramal Enterprises through its structured investment group subscribed to non-convertible debentures of Sanghi Industries to the extent of Rs 2.56 billion.

The funding will enable Sanghi Industries to reinforce its capital base and pre-pay lenders.

Shares of Sanghi Industries are trading at Rs 71.60, up Rs 4.4, or 6.55% at the Bombay Stock Exchange (BSE) on Friday at 11:50 a.m.

Total volume of shares traded on the bourses today was higher by 112.02% to 742,569 compared with 22-day average volume of 350,242.