Sarda group has acquired 4% stake in GIC Housing calling it a long term investment.

Kolkata, West Bengal -- (ReleaseWire) -- 06/08/2007 -- Ghanshyam Sarda of the 1000 crore Sarda group, recently announced that they have picked up 4% stake in GIC Housing. He said: "The global trend indicates a great future for the housing finance companies". Sarda group has multiple investments in the IT and real estate industries.

Investors in Calcutta have been buying stakes in several leading companies and the overall mood here is very positive. Analysts said the investors were cherry-picking the stocks and were investing in industries in which they had specific interests. Mr. Sarda added: "We want to buy shares of companies operating in industries with long-term profitability. Obviously we want to purchase shares at reasonable price only."

The investor friendly approach of the new West Bengal government has been acting as a stimulant to the companies willing to set up shops and development centres in Bengal.