ITDC shares hit upper circuit in run-up to NSE listing

NEW DELHI: Shares of Indian Tourism Development Corporation ( ITDC) hit the upper circuit at 20 per cent on BSE in Thursday’s trade after the company informed bourses that its shares will start trading on NSE with effect from December 30.

The scrip surged 19.98 per cent, or Rs 35.35, to Rs 212.30 on Thursday. Shares of the company opened the day at Rs 184.10 and touched a high and low of Rs 212.30 and Rs 184.10, respectively.

For the quarter ended September 30, 2016, ITDC reported a net loss of Rs 3 crore against net profit of Rs 1 crore in the corresponding quarter last year. Revenue of the company increased 20 per cent year-on-year to Rs 106.25 crore from Rs 88.17 crore in the same quarter last fiscal.

In the past one year, share price of the company has slipped nearly 6 per cent till December 28, whereas BSE Sensex added 0.60 per cent during the same period.