India Tourism Development: Shares plummet
India Tourism Development Corporation Ltd. (ITDC) stock has taken a nose-dive. The share price dropped a whopping 58% over the past year – 29% of that figure was just in the last month alone. ITDC came into existence in October 1966 and is owned by the Government of India, under the Ministry of Tourism.
Even though the India Tourism Development share price is down over the year, its earnings per share (EPS) has actually improved. So, it’s fair to say that the share price does not seem reflective of the EPS growth.
The CEO of India Tourism Development is paid less than the median at companies of comparable size. The top chief’s pay is usually indicative of how well a company is doing. You can do the math there.
ITDC has been the prime mover in the progressive development, promotion, and expansion of tourism in the country. The Corporation is running hotels and restaurants at various places for tourists, besides providing transport facilities. In addition, the Corporation is engaged in production, distribution, and sale of tourist publicity literature and providing entertainment and duty-free shopping facilities to tourists.
The Corporation has diversified into new avenues/innovative services like Full-Fledged Money Changer (FFMC) services and engineering related consultancy services, as examples. The Ashok Institute of Hospitality & Tourism Management of the Corporation imparts training and education in the field of tourism and hospitality.
Presently, ITDC has a network of 8 Ashok Group of Hotels, 5 Joint Venture Hotels, 1 Restaurant, 9 Transport Units, 9 Duty Free Shops at airports and seaports, and 2 Sound & Light Shows. ITDC is also managing a hotel at Bharatpur and a restaurant at Kosi on behalf of the Department of Tourism. In addition, it is also managing catering services at Western Court, Vigyan Bhawan, and Hyderabad House, New Delhi.
Given the relatively short history of India Tourism Development’s stock, which has not been listed for that many years, shareholders are going to want to see some strong business performance in the very near future.
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Article Source: https://www.eturbonews.com/