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India Tourism Development shares rally more than 16% on heavy volume
The jump follows the company setting a 15 September record date for a final dividend of ₹2.95 per share, with trading of about 54.64 lakh shares by midday.
India Tourism Development shares surged more than 16% in Thursday trading, reaching an intraday high of ₹736 per share on the NSE on 10 September, according to LiveMint Markets.
By 12:55 pm, the stock was trading at ₹6,119.65 crore in market capitalization, after opening at ₹629.65 per share. The rally was accompanied by heavy activity, with around 54.64 lakh shares changing hands in the session so far.
LiveMint Markets said the move came ahead of the company’s dividend record date. In August, India Tourism Development announced a final dividend of ₹2.95 per share of face value ₹10, subject to board approval, and set 15 September as the record date to determine eligible shareholders.
The report also noted that the stock had a positive performance backdrop, up 9.50% over the past week, 1.26% over the past month, and 16.04% year to date, with a 7.88% gain over one year and a 70.57% rise over three years.