Sadbhav Engineering witnessed a rise in share prices on Thursday after its subsidiary Sadbhav Infrastructure Project signed memorandum of understanding (MoU) to acquire stake in joint venture (JV) from Patel Infrastructure. As a part of MoU, Sadbhav arm will buy 20% stake in Ahmedabad Ring Road (ARRIL) from Patel Infrastructure. 

The company will hold 100% stake in ARRIL, upon completion of proposed acquisition.

Shares of the company gained Rs 5.6, or 2.33%, to trade at Rs 246.00. The total volume of shares traded was 15,327 at the BSE (12.07 p.m., Thursday). The scrip has touched an intra-day high of Rs 249.75 and low of Rs 242.50. The total volume of shares traded at the BSE is 15,327.