Petron Engineering zooms on stake sale

The stock of Petron Engineering zoomed on announcement that the key shareholders have entered into agreement with KazStroyServices PLC., UK for sale of stake in holding company Petron Investments Pvt Ltd (PIPL) which has 52.22% stake in the company.

The stock was trading at Rs.219.20, up by Rs.29.90 or 15.80% compared to its previous close of Rs.189.30

The stock hit an intraday high of Rs.222.50 and low of Rs.187.10. The total traded quantity was 761225 compared to 2 week average of 88711.

The company has been in limelight with the stock climbing Rs.78.95 or 56.29% from last month's price of Rs.140.25.

Source : Equity Bulls

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