Union government to transfer three more ITDC properties



The Finance Minister Arun Jaitley announced in a press conference on Wednesday that the Central government will be transferring three more of the ITDC properties to the states for the purpose of development.

Indian Tourism Development Corporation (ITDC) had announced on Tuesday that it has signed a Memorandum of Understanding (MoU) with Arunachal Pradesh Industrial Development and Financial Corp Ltd (APIDFC), Donyi Polo Ashok Hotel Corporation Limited (DPAHCL) and Government of Arunachal Pradesh (GoAP), making an agreement to transfer 51% equity stake of ITDC in DPAHCL, the joint venture subsidiary company, to APIDFC/GoAP, the company said in a BSE filing on Tuesday.

ITDC surged during Wednesday’s trade, breaching its upper circuit of Rs 595.10 per share, up by 19.99% on the BSE on Wednesday. The stock also witnessed a spurt in its volume by more than 12.64 times. The stock had hit its 52-week high of Rs 745.80 per share on April 24, 2017 and its 52-week low of Rs 168 per share on November 24, 2016, respectively.   

ITDC operates hotels, and tours and travels. The company's segments include hotel/restaurants operations; duty free shops operations; travels & tours operations.



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