ITDC in green; executes share transfer agreement

ITDC has executed share transfer agreement for the transfer of 51% equity stakes in two joint venture subsidiary.

Jun 30, 2017 12:06 IST India Infoline News Service

India Tourism Development Corporation (ITDC) has executed share transfer agreement for the transfer of 51% equity stakes in two joint venture subsidiary companies Madhya Pradesh Ashok Hotel Corporation Limited and Assam Ashok Hotel Corporation Limited, on Thursday.
The total consideration amounted to Rs 2.14 crores.

Meanwhile, the stock traded in positive territory gaining 0.29% at Rs 539.15 per share on BSE on Friday’s trade.

On NSE, the stock has attracted a traded volume of 17,980 shares and a traded value of Rs 97.27 lakhs.

On yearly basis, the stock has outperformed BSE Small-cap index on yearly basis.

India Tourism Development Corporation Limited operates hotels, and tours and travels. The company's segments include hotel/restaurants operations; duty-free shops operations; travels & tours operations & Misc. operations; construction, consultancy & SEL Projects, and Others.

Stock view:

India Tourism Development Corporation Ltd is currently trading at Rs 539.5, up by Rs 1.9 or 0.35% from its previous closing of Rs 537.6 on the BSE.
The scrip opened at Rs 545 and has touched a high and low of Rs 545 and Rs 537 respectively. So far 22793(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 4610.96 crore.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 745.8 on 24-Apr-2017 and a 52 week low of Rs 168 on 24-Nov-2016. Last one week high and low of the scrip stood at Rs 570.2 and Rs 525 respectively.
The promoters holding in the company stood at 87.03 % while Institutions and Non-Institutions held 3.75 % and 9.23 % respectively.
The stock is currently trading below its 50 DMA.

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