ITDC Shares Dazzles On D Street Shares Up By Over 16%


Shares of India Tourism Development Corporation are shining on BSE as the shares are trading over 16% at Rs 731.25 per share. The share witnessed an opening of Rs 650 per share which is also its low & soared to Rs 742 per share on today’s trade.   
          
Government is planning to divest its stake from the company, said an industry insider. The government might adopt these three possible ways to roll out the process of divestment, reported a leading news portal.

1) It could give states right to sell or give ITDC hotels on lease

2) For centre-owned ITDC hotels, government may give them to private companies on lease

3) For joint ownership of centre and state, such hotels may be given to private companies on lease.

The tourism sector contributes significantly in the GDP of the nation and it is likely to emerge as one the biggest employment generator in the forthcoming years, revealed a report. A slew of government measures to boost tourism of the country such as new aviation policy, massive investment in the infrastructure development and special attention on the boost of eco-tourism and health tourism is anticipated to change the fabric of the tourism sector in the years to come, believes expert.

The steady weakening of the Pound is also creating a suitable climate of growth for the Indian tourism sector. In the early month currency trading in Britain, the Pound Sterling dived below Rs 80 per INR. The Pound has tumbled about 20% against the Indian rupee in the past six months.

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