New Delhi, Aug. 26 -- Healthcare stock Park Medi World is witnessing healthy buying momentum, defying weak market sentiment. Park Medi World share price climbed 2.7% to hit an intraday high of Rs.283.85 on the BSE on Wednesday, 26 August. The stock looked set to extend gains for the fifth consecutive session, gaining almost 8% in the period.

In an exchange filing on 26 August, Park Medi World said it had been awarded a mandate under the public-private partnership (PPP) model by the Prayagraj Municipal Corporation, Uttar Pradesh, for the development and operation of a 550-bed multi-super-speciality hospital in Prayagraj, Uttar Pradesh.

Under the concession, Park Group will construct the hospital facility over a period of two years from t...