HB Estate Developers signs Management Agreement with Indian Hotels

HB Estate Developers Ltd has announced that the Company has entered into a long term Management Agreement with Indian Hotels Company Ltd (IHCL) on July 18, 2007 for operating a five star Hotel in "Taj Portfolio of Hotels" being set up by the Company at Plot No. 1, Sector 44, Gurgaon, Haryana.

The aforesaid Hotel Project of the Company is under implementation and is expected to be completed in 3 years. During the setting up / construction stage, IHCL shall provide its technical assistance to the Company.

The stock closed the day at Rs.50.50, down by Rs.0.95 or 1.85%. The stock hit an intraday high of Rs.53 and low of Rs.48.35. The total traded quantity was 5247 compared to 2 week average of 7826.

Source : Equity Bulls

Keywords