ITDC shares rally 67% on sales under National Monetization Pipeline
Business
ITDC shares have shot up over 67% in seven consecutive sessions, thanks to the government selling off several of its hotel subsidiaries.
This move is part of a bigger plan, the National Monetization Pipeline, which aims to make public assets more productive by bringing in private partners.
Multiple Ashok hotels transferred, valuations disclosed
Some big hotels have already changed hands: Ranchi Ashok Hotel was transferred to the Jharkhand government for ₹3.06 crore, while Punjab Tourism picked up a majority stake in Punjab Ashok Hotel for ₹79 lakh.
Hotel Jammu Ashok is to be handed over to the state government at a valuation of ₹11.09 crore, and Talks to divest Ashok Hotel's units in Odisha's Puri and Bhubaneshwar are at an advanced stage.