Sterling Holiday Resorts sells surplus land in its Goa property

Sterling Holiday Resorts India Ltd has announced that the Company on May 11, 2007 has sold a part of the property and surplus land at Goa retaining the remaining part for timeshare customers. The Company is using the entire proceeds for settlement of its loans and liabilities. The Company owns another plot of land at Goa adjacent to the existing property and will be developing this property both for timeshare as well as hotel operation.

The stock was trading at Rs.44.60, up by Rs.3.45 or 8.38%. The stock hit an intraday high of Rs.45.70 and low of Rs.42.10. The total traded quantity was 60821 compared to 2 week average of 60671.

Source : Equity Bulls

Keywords