ITDC share price climbs over 15% as Board to consider Ashok Hotel asset monetisation

The stock jumped as much as 15.6% to ₹589 per share in the intraday trade on the National Stock Exchange (NSE). At 11:28 am, it was up 14.38% to ₹582.5 apiece.

In an exchange filing on Tuesday, the company said, "Board Meeting of India Tourism Development Corporation Limited (ITDC) will be held on Tuesday, the 11th day of March 2025 at 11 a.m. at The Ashok, Chankyapuri, New Delhi to consider the agenda on Asset Monetization of the Ashok Hotel along with the presentation from the consultant."

Amid this announcement, the trading window for designated persons under SEBI (Prohibition of Insider Trading) Regulations, 2015, will remain closed with immediate effect from Tuesday to Thursday, March 13, or until 48 hours after the announcement of the Board decision in the meeting held on March 11.

The stock has declined 7.16% year-to-date, while it has shed 24.5% in the past year.

ITDC reported a 10.7% increase in its consolidated revenue from operations to ₹149.41 crore for the third quarter of the current fiscal year. In the year-ago period, the revenue was ₹134.93 crore.

The net profit surged 15.25% to ₹20.63 crore in the latest December quarter, compared to ₹17.9 crore in the corresponding period last fiscal.

The total expenses stood at ₹126.16 crore in the quarter under review, reflecting an increase of 10.45% from ₹114.22 crore in the same period previous year.

The hotel division contributed ₹95.68 crore to the revenue, while the travels and tours segment chipped in ₹11.56 crore. The revenue from event management, hospitality, and tourism management institute was ₹40.11 crore.

ITDC is a PSU under the administrative control of the Ministry of Tourism.