Parsvnath Developers may buy 30% stake in Nano City project for Rs 5.5 billion, reports Business Standard. This values the Nano City at Rs 18.5 billion.

Sabeer Bhatia, chairman of Nano Work Developers holds 90% stake in the Nano City project, while the rest is hold by Haryana State Industrial Development Corporation. The project will be set up in an area over 11,000 acres near Panchkula.

Shares of Parsvnath (Q, N,C,F)* Developers gained Rs 3.15, or 1.56%, to end at Rs 204.9. The total volume of shares traded was 192,595 at the BSE. (Wednesday)