Miniratna Company With LIC Stake Inks MoU With DMRC, Shares Rally 138% In 3-Yrs

Miniratna company, Indian Railway Catering and Tourism Corporation Ltd has signed memorandum of understanding (MoU) with Delhi Metro Rail Corporation on August 14, 2023 to provide QR code-based tickets through IRCTC platform, according to the BSE filing. The move is likely to benefit passengers of both IRCTC and DMRC by streamlining the travel experience and reducing the time spent in queues at stations.

Last trading price of IRCTC share is Rs 649.95 apiece with intraday fall of 1.92%. It is worth noting that Life Insurance Corporation has 8.54% stake in IRCTC with the possession of 6,83,02,115 shares. Check details below:

IRCTC signs MoU with DMRC: As per the BSE filing of IRCTC dated August 14, 2023, "Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, this is to inform that IRCTC has signed a MoU with Delhi Metro Rail Corporation (DMRC) on August 14, 2023 for providing QR code based DMRC tickets through IRCTC Platform. This innovative initiative is set to benefit passengers of both IRCTC and DMRC by streamlining the travel experience and reducing the time spent in queues at stations."

IRCTC Stock Performance & Return: Last trading price of Indian Railway Catering and Tourism Corporation Ltd share is Rs 649.95 per share. Its 52-week high price is Rs 775.00 apiece and 52-week low price is Rs 557.15 apiece, respectively. The company has a market capitalisation of Rs 51,996.00 crore. IRCTC shares soared over 4% in last 1-month, rallied 1.20% year-to-date, fell 2.49% in last 1-year, rallied 22% in last 2-years, and surged 138% in last 3-years.

IRCTC Financial Performance: The tourism & hospitality sector stock declared its standalone total income for the quarter ended June 30, 2023 of Rs 1041.00 crore, up 3.66% from preceding quarter total income of Rs 1004.28 crore. It announced its recent quarter net profit after tax at Rs 232.22 crore.

About IRCTC: Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) is a "Mini Ratna (Category-I)" Central Public Sector Enterprise under Ministry of Railways, Government of India. IRCTC was incorporated on 27th September, 1999 as an extended arm of the Indian Railways to upgrade, professionalize and manage the catering and hospitality services at stations, on trains and other locations and to promote domestic and international tourism through development of budget hotels, special tour packages, information & commercial publicity and global reservation systems, according to its official website.

Disclaimer: The stock inked an MoU with DMRC. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.