ITDC zooms over 12%; inks pact for transfer of Lalitha Mahal Palace Hotel

India Tourism Development Corporation (ITDC) informed that the company has inked pact for transfer of Lalitha Mahal Palace Hotel, Mysore to government of Karnataka.

Sep 21, 2017 09:09 IST India Infoline News Service

India Tourism Development Corporation (ITDC) informed that the company has inked pact for transfer of Lalitha Mahal Palace Hotel, Mysore to government of Karnataka.
 
A Memorandum of Understanding (MoU) has been executed for transfer of Lalitha Mahal Palace Hotel, Mysore to State Government of Karnataka, said the company in a BSE filing on Wednesday post market hours.
 
ITDC was roaring on the bourses during early morning trade on Thursday as the stock soared over 12%. ITDC was trading at Rs 649 per share, up by Rs 71.55 or 12.39% as at 0924 hours on Thursday on the BSE. The stock attracted a traded volume of 3,79,069 shares and traded value of Rs 2,402.08 lakh on the NSE.
 
Union 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.

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