The stock of Asian Hotels spiked by 8 per cent to Rs 600 on Wednesday after the company announced record dates for its interim dividend announced last week.
Against an average of 2,600 shares a day for the last two weeks, nearly 3,700 shares changed hands on Wednesday on the BSE.
The stock had gone up by 100 per cent during the early part of this month, touching the Rs 650-mark after rising steadily from Rs 325 a year ago.
The company's strong results during the June 2005 and December 2005 quarters had given huge lift to the stock.
However, the stock has been slipping during this month due to the general downward pressure as well as average results for the March quarter.
Payout date cheers Asian Hotels
DALAL STREET SPIKES
Our Markets Bureau / Mumbai Jun 01, 2006, 23:06 IST
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