Update 4
Sensex firm but moves in narrow range
Auto shares took the lead in mid-afternoon trade as the Sensex hovered near record high above 13,800. But software major and index heavyweight Infosys pared gain.
The market breadth remained strong. 1597 shares rose on BSE as compared to 895 shares that declined. 84 shares were unchanged. Gainers outpaced losers by a ratio of 1.7:1.
At 13:56 IST, Sensex was up 110 points at 13,806. Sensex moved in a range of between 13,793 to 13,827 since 13:00 IST.Earlier, Sensex hit 13,835.53 at 11:41 IST, which is a record high for the barometer index.The market held firm right from the beginning of the trading session today following smooth rollover on Thursday to December futures from November futures.BSE clocked a turnover of Rs 2833 crore.
GMR Infrastructure takes off on hotel mgmt pact
GMR Infrastructure spurted 4.10% to Rs 385.05, after a subsidiary tied up with a Singaporean hospitality firm to manage its first business hotel.
GMR Hyderabad International Airport (GHIAL) has roped in Accor Hotels and Resorts, Singapore, to operate its hotel at Rajiv Gandhi International Airport in Shamshabad.
As per the agreement, Accor will operate, manage and maintain the hotel in accordance with Novotel Brand standards. Accor will also provide technical support during the construction stage, to build the hotel as per Novotel norms.
The lease term for operating the hotel is for a period of 10 years, which can be extended further on mutual agreement.The construction of the hotel will commence shortly, and become operational by the time the new international airport takes off in March 2008. The hotel will come up on a five-acre site, approximately 2.75 km from the Passenger Terminal Building (PTB). The hotel, in all, will have 300 keys, of which 120 will be developed in the first phase. Accor operates in nearly 100 countries.
The scrip hit Rs 386.85, a life high for the scrip.As many as 5.66 lakh shares were transacted on BSE.The stock has risen sharply in the past two months. From Rs 212.45 on 26 September 2006, it surged 78.65% to Rs 379.55 on 27 November, on strong buying.
Auto shares took the lead in mid-afternoon trade as the Sensex hovered near record high above 13,800. But software major and index heavyweight Infosys pared gain.
The market breadth remained strong. 1597 shares rose on BSE as compared to 895 shares that declined. 84 shares were unchanged. Gainers outpaced losers by a ratio of 1.7:1.
At 13:56 IST, Sensex was up 110 points at 13,806. Sensex moved in a range of between 13,793 to 13,827 since 13:00 IST.Earlier, Sensex hit 13,835.53 at 11:41 IST, which is a record high for the barometer index.The market held firm right from the beginning of the trading session today following smooth rollover on Thursday to December futures from November futures.BSE clocked a turnover of Rs 2833 crore.
GMR Infrastructure takes off on hotel mgmt pact
GMR Infrastructure spurted 4.10% to Rs 385.05, after a subsidiary tied up with a Singaporean hospitality firm to manage its first business hotel.
GMR Hyderabad International Airport (GHIAL) has roped in Accor Hotels and Resorts, Singapore, to operate its hotel at Rajiv Gandhi International Airport in Shamshabad.
As per the agreement, Accor will operate, manage and maintain the hotel in accordance with Novotel Brand standards. Accor will also provide technical support during the construction stage, to build the hotel as per Novotel norms.
The lease term for operating the hotel is for a period of 10 years, which can be extended further on mutual agreement.The construction of the hotel will commence shortly, and become operational by the time the new international airport takes off in March 2008. The hotel will come up on a five-acre site, approximately 2.75 km from the Passenger Terminal Building (PTB). The hotel, in all, will have 300 keys, of which 120 will be developed in the first phase. Accor operates in nearly 100 countries.
The scrip hit Rs 386.85, a life high for the scrip.As many as 5.66 lakh shares were transacted on BSE.The stock has risen sharply in the past two months. From Rs 212.45 on 26 September 2006, it surged 78.65% to Rs 379.55 on 27 November, on strong buying.
posted by SY at 2:21 PM
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