Shares of Parsvnath Developers jumped nearly 5 percent on the Bombay Stock Exchange after Supreme Court asked the company to pay interest at 10 percent per annum to 70 buyers in Ghaziabad project. The apex court in its ruling clarified that this order would apply only to this case and not be treated as a judicial precedent, ET reported.
Following the Supreme Court order, shares of the company gained as much as 4.86 percent to trade at an intra-day high of Rs 23.70 apiece on the Bombay Stock Exchange. In a similar fashion, shares of the company were trading 1.52 per cent higher at Rs 23.35 apiece on the National Stock Exchange. Meanwhile, the broader benchmark BSE Sensex was trading at 32,267.74, down 132.77 points, or 0.41 percent, at 11:50 hours.
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