IRCTC Share Price Update: Miniratna Railway Stock Hits New 52-Week High On Business Expansion Plan

Shares of IRCTC Limited traded at a new 52-week high value of Rs 800.00 in the intraday trading on Thursday after the state-owned railway major unveiled its plans for expansion in the non-railway catering business across the country. Before this, IRCTC stock price traded on new 52 Week High value of Rs 786.25 on December 12.

The share price of IRCTC Limited was seen trading 1.53% higher at Rs 789.90 per share at 11:20 am IST today. At this price the railway major commands a market capitalization of Rs 63,192.00 crore.

On Wednesday, IRCTC said via an exchange filing that the company is eyeing Major Expansion in the Non-Railway Catering Business Pan India. The company said, "With a team of hospitality qualified professionals and enormous experience in planning and execution of catering projects and multiple services contracts in Railways, IRCTC is now on the road to proliferate in the areas of business beyond Railways for promoting its brand and business across the nation."

IRCTC, a MiniRatna PSU under the Ministry of Railways has been playing a pivotal role in upgrading and professionalizing the hospitality services of Indian Railways thereby garnering much appreciation from the passenger fraternity.

Having proved its capabilities in handling one of the most important passenger amenities of Indian Railways, IRCTC has been able to strike the right balance between operation and excellence to ensure that passengers get the best catering services in the railway ecosystem.

At present the company is managing catering services for various Ministries, Government Departments, and Autonomous Bodies including Judiciary and Universities. The company has already set up its hospitality outlets in 9 such organizations including the Department of Telecommunications - New Delhi, Calcutta High Court, UP Secretariat - Lucknow, and so on.

The company said, "With aggressive plans to further mark its signature in the catering business and customizing to the requirements of clients, IRCTC has already signed MoUs with various government and autonomous bodies including defense establishments such as Border Security Force, Indian Maritime University - Kolkata, Cotton University - Guwahati and so on while the company is in active phase of commissioning 15 more catering units across the country in the near future."

IRCTC stated that it is in discussions with various other government organizations and industrial houses for setting up catering units and also offers comprehensive catering solutions in sync with its aim of becoming a premier brand of Hospitality and Catering in the country.

IRCTC Stock Price Performance:

IRCTC shares have gained 23.47% in this year so far, while the stock is up 7.94% in the last one year. In the last three years, the returns from the stock have gained 168.15%. In the last six months, the share price of IRCTC Ltd has gained 23.31%.