Irctc Share Price History Whenever there is a corporate stock split in #IRCTC today and the share price drops in tandem, retail investors tend to buy shares under the mistaken belief that the stock has become cheaper. Shares are also getting cheaper for retail investors as the company splits existing shares into new ones.
Irctc Share Price History
IRCTC is the only organization authorized by Indian Railways to provide catering services, online rail tickets and bottled drinking water at railway stations and trains in India. IRCTC runs a purely monopoly business as it is the only company authorized to provide online ticketing and catering services for Indian Railways.
IRCTC has a monopoly business as it is the only authorized reseller for catering, ticket booking and water bottle delivery to Indian Railways passengers. It is one of the top selling websites, www.irctc.co.in, in the Asia-Pacific region with an average transaction volume of 2.5 to 2.8 kr per month.
IRCTC operates travel, catering, online ticketing services, and supplies packaged drinking water in the country’s trains and stations. IRCTC also operates several express trains in India as a “private participant”. In addition to this, IRCTC has also established links with airlines.
On December 31, 2020, IRCTC launched a new updated e-ticketing website and mobile application for online train ticket booking. As of August 31, 2019, about 1.40 million people were traveling on Indian Railways and over 0.84 million passengers were booking tickets online daily through the IRCTC website and mobile app. So far, 1.13 lakh IRCTC shares have been traded on the BSE and 10.80 lakh on the NSE.
Shares are up more than Rs 90 or more than 5 percent from Thursday’s previous closing price. The shares are currently trading at Rs 4,679 with a market capitalization of over Rs 73,500 crore. Analysts believe that the rise in IRCTC’s share price and P/E ratio was supported by various factors, such as the openness of post-COVID tourism, the platform business, and the company’s monopoly nature.
The IRCTC share price rally came on a day when overall market sentiment was positive, with stocks in all sectors except health care gaining and pushing the major indices by more than half a percentage point, in line with their Asian counterparts. In today’s session, IRCTC shares hit a high of Rs 2,125.65 and a low of Rs 2,081 each. IRCTC share price ended the day at Rs 1,857.05 on the NSE after falling to Rs 1,750 when markets opened today. After testing the high at 13:00, IRCTC stock prices recovered from their all-time high and are now trading around 860.
Since listing, IRCTC shares have tripled in price, or 230%, but have risen more than six times, or 564%, from the offering price. Although IRCTC shares debuted on the secondary market at Rs 644, up from the offering price of Rs 320, PSU shares are currently trading at Rs 865.70. IRCTC debuted on the market on 14 October 2019 and was listed at Rs 644 compared to an issue price of Rs 320 per share.
IRCTC was listed on the National Stock Exchange in 2019, reducing the Government of India’s stake to 87%, with the remainder listed on the stock exchange. As of December 2021, the company’s founders held 67.40% of IRCTC’s capital, but no shares have been transferred.
With a trailing P/Diluted EPS of 294x, IRCTC stock is trading close to Elon Musk Tesla Inc, another stock that has been repeatedly scrutinized for high P/E multiples. IRCTC’s share price fell 29% from the last trading hour on Tuesday after reaching a market capitalization of Rs 1 million. It fell 18 percent to hit an intraday low of Rs 4,371.25 on the Bombay Stock Exchange (BSE). On October 19, PSU shares rose 9% to a record high of Rs 6,393 and became the ninth public sector entity to join the Rs 1 million market capitalization (m-cap) club.
After these assumptions, investors began to pull back their positions and saw the stock rise. Shares in Indian Railways Catering & Tourism Ltd were last traded at $861.70, down 2.12% from the NSE. Shares of Indian Railways Catering and Tourism Corporation (IRCTC) surged 16% on Thursday after the stock split.
The company reported strong results for the second quarter, improving earnings, revenue and margins. The company is expected to record earnings per share of Rs 37.00 next year, compared to Rs 11.87 last year.
The company was founded in 1999 and is headquartered in New Delhi, India. In addition, the company manages and maintains railway receptions; operates 2 budget hotels called Rail Yatri Niwas; and offers e-catering, online ticketing and accommodation services.
On August 7, 2019, IRCTC launched a payment wallet called iMudra to provide an easy way to book train tickets, pay, send money or withdraw money. In 2020, IRCTC officials emailed a book titled “Prime Minister Modi and his government’s special relationship with Sikhs” using the personal details of passengers who booked tickets during the 2020-21 Indian farmers protests brochure. In it they promote the benefits of government policies to protest against Sikh farmers. The IRCTC denied the leak, but formed a committee of IRCTC and Center for Railway Information Systems (CRIS) officials to review the report.
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The Client is under no obligation to use the distribution or performance services offered by its holding company. The Company will not receive any proceeds from the Offering and all proceeds will go to the Selling Shareholder.
For example, in the case of IRCTC, if an investor owned 5 shares of a company, the number of shares would increase to 25, the price of each share would decrease, but their underlying value would remain the same.
In addition, stocks trade at a premium over historical averages and are highly valued. For equity investors, the strategy hasn’t changed, and he said they should continue to hold it long-term.
|Dec 2021 E||831.75||809.00||878.20||780.70||100.44M||4.60%|
|Sep 2021 E||759.70||551.00||803.94||543.60||545.20M||38.03%|
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