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.