The stock rose for the second day in a row. The scrip had jumped 10.41% to Rs 33.95 on high volume of 17.55 lakh shares on Tuesday, 15 March 2011.

Meanwhile, the BSE Sensex was up 251.55 points, or 1.38%, to 18,419.19.

On BSE, 11.52 lakh shares were traded in the counter as against an average daily volume of 6.70 lakh shares in the past one quarter.

The stock hit a high of Rs 36.95 and a low of Rs 34.25 so far during the day. The stock had hit a 52-week low of Rs 25.10 on 11 February 2011. The stock had hit a 52-week high of Rs 74.73 on 29 September 2010.

The stock had outperformed the market over the past one month till 15 March 2011, spurting 14.50% compared with the Sensex's 0.58% decline. The scrip had however underperformed the market in past one quarter, falling 33.69% as against 7.53% decline in the Sensex.

The mid-cap real estate developer has an equity capital of Rs 217.59 crore. Face value per share is Rs 5.

As per reports, Parsvnath Developers is currently in talks with two private equity firms -- JP Morgan and Redfort Capital -- to sell around 25% stake in Parsvnath City project in Sonepat (Haryana) for Rs 100-150 crore.

Meanwhile, another media report suggested that Parsvnath Developers will pay the next installment of about Rs 340 crore due to Rail Land Development Authority (RLDA) for the mega land deal clinched late last year. The real estate company has achieved financial closure for this amount and intends to hand over the payment next week, reports suggest. In November 2010, in an auction held by RLDA, the company had emerged as the largest bidder for developing the 38-acre prime plot. The company had offered to pay Rs 1,652 crore for the land parcel located in a key area in Delhi, say reports.

On a consolidated basis, Parsvnath Developers' net profit rose 26% to Rs 31.37 crore on 27.6% decline in net sales to Rs 219.83 crore in Q3 December 2010 over Q3 December 2009.