Three-star nod for Shirdi hotel buoys Parsavnath

DALAL STREET SPIKES

Parsvnath Developers rose 3.58 per cent to close at Rs 120.05 after the company announced on Friday, minutes before the end of the trading session, that its hotel project at Shirdi has received three-star category approval from the Ministry of Tourism.

As per market reports, the hotel (which comprises 52 rooms) is strategically located in close vicinity of the Shirdi temple and will be operational within a year. The stock made an intraday high of Rs 121 and a low of Rs 113.55. The counter witnessed trading volumes of 2,95,433 shares vis-à-vis two-week average of 1,95,138 shares.