ITDC gains on signing MoUs with MP, Assam and Rajasthan government

In past four weeks, the stock zoomed 84% as compared to 0.85% rise in the S&P BSE Sensex.

India Tourism Development Corporation (ITDC) is locked in upper circuit of 10% at Rs 736 on BSE in opening deal after the company said Memorandum of Understandings (MoUs) has been entered with Government of Madhya Pradesh (MP), Assam and Rajasthan for transfer of equity stake of the company in the joint venture subsidiary companies/transfer of undertaking to the respective state governments/ state institutions.

“The MOUs with government of Madhya Pradesh for transfer of 51% equity stake of ITDC in MP Ashok Hotel Corporation Limited to the MP State Tourism Development Corporation and with the government of Assam for transfer