Parsvnath Developers, a leading real estate and infrastructure developer, witnessed a sharp rise in share prices on Thursday after the company has entered into a transaction with Supertech to transfer development rights. As per the transaction, the company has transferred the development rights in the township project at Sohna Road, Gurgaon (Project) to Supertech.

The company has also transferred its shareholding in Honey Builders, with whom the company has held joint development rights in the said project, to Supertech.

Shares of Parsvnath Developers are trading at Rs 23.50, up Rs 0.75, or 3.30% at the Bombay Stock Exchange (BSE) on Thursday at 12:15 p.m. The scrip has touched an intra-day high of Rs 23.65 and low of Rs 22.70. The total volume of shares traded at the BSE is 50,709.