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Why Shares of IRCTC Hit All-Time High?

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Shares of Indian Railway Catering and Tourism Corporation (IRCTC) touched a 52-week high on the BSE during intra-day trade on Thursday.

 

The stock of the government-owned railways' catering and ticketing business has risen by 32% in the last month, surpassing its previous peak of Rs 1,995, set on February 25, 2020, compared to the S&P BSE Sensex's gain of less than 1%.

Why Shares of IRCTC Hit All-Time High?

On March 24, 2020, the shares of Indian Railways ended at Rs 815.40 and are now trading at Rs 1,928.55, making a return of about 136.5% in less than a year.

Why shares of IRCTC are trading higher?

Experts believe that this increase in IRCTC share price may be attributed to the company's December 2020 Offer for Sale (OFS). Following the OFS, the IRCTC's shareholding trend indicates that FIIs and Institutions' percentage shareholding has increased exponentially, assisting IRCTC shares in moving upwards.

The majority of brokerage firms are optimistic about the government-owned ticketing market.

From March 14, 2021, the Indian Railway Catering and Tourism Corporation (IRCTC) will run trips via Golden Chariot, according to the exchanges.

Starting from Bengaluru on 14.03.2021 and ending in Bengaluru, the Pride of Karnataka tour will take you to Bandipur National Park, Mysore, Halebidu, Chikmangalur, Hampi, Aihole, Pattadakal, Goa, and Bengaluru.

 

Jewel of the South - updated (3 nights/4 days) tour departing Bengaluru on March 21, 2021 and visiting Mysore, Hampi, Mahabalipuram, and Bengaluru.

Indian Railway Catering & Tourism Corporation Ltd was trading at Rs 1963.00per piece at 1.13 p.m. on the BSE, up Rs74.40 or 3.97percent from its previous close of Rs1,884.35 per piece. It touched an intra-day high of Rs 2015.80.

Read more about: irctc
Story first published: Thursday, March 4, 2021, 13:21 [IST]
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