ITDC Hotels

Even as hotel shares fell up to 5% on Monday; technical charts hint up to 15% upside potential for Mahindra Holidays, TAJ GVK, Apollo Sindoori, ITDC, EIH, Oriental Hotels and Advani Hotels.

Shares of STC India, ITDC, and KIOCL from the S&P BSE CPSE index were locked at 20 per cent upper circuit, hitting multi-year highs

WFH and travel paranoia during Covid-19 have lowered occupancy in these hotels, forcing them to offer alluring rates as low as Rs 5,000 a night with meals to leisure customers

Shourie, was the minister in charge of divestment when the property, owned by the public sector India Tourism Development Corporation, was sold to Bharat Hotels Ltd, a private company

This was as part of disinvestment exercise, which has been formulated in line with view that managing hotels is not the job of the govt or its entities

ITDC is a public sector undertaking that currently runs 16 hotels in Delhi, Patna, Jammu and other cities

Centre plans to divest or transfer management powers of various hotels under ITDC

The stock hit 52-week high of Rs 630, rallied nearly 200% thus far in the calendar year 2017.

Hotels that are run jointly by the Centre and states can also be given to private entities on lease