IRCTC stock ends with marginal cut - key things to know
Indian Railways has registered a whopping 92 per cent jump in revenue from the passenger segment on YoY.
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) on Wednesday ended with a marginal cut as investors' sentiment turned sour. The stock of the Indian Railways ticketing arm settled at Rs 723.55 apiece on the NSE after declining 0.28 per cent against 0.82 per cent rise in the benchmark Nifty50 index. On the BSE, the scrip finished at Rs 722.35.
According to Zee Business channel research, Indian Railways has registered a whopping 92 per cent jump in revenue from the passenger segment on YoY. In the reserved passenger segment, the national transporter registered 24 per cent growth YoY while 197 per cent in unreserved passenger segment.
In Zee Business' Traders diary show, IRCTC was recommended for the viewers to sort term trade based on news.
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IRCTC Share Price Target: Rs 750
IRCTC Share Stop Loss: Rs 710
IRCTC stock has been in a consolidation phase for the past six months. The counter has delivered yielded a negative return of around 15 per cent year to date. The market cap of the firm stood at Rs 57,788 crore as per October 12 closing, according to the BSE website. IRCTC in October last year split its stock split in the ratio of 1:5. IRCTC stock 52-week range is Rs 1279.26 - Rs 557.
In the first quarter of the current fiscal, IRCTC had reported a three-fold surge in net profit to Rs 246 crore as against a net profit of Rs 82.5 crore in the year-ago period.
IRCTC’s all five businesses -- catering services; Internet ticketing; Rail Neer; tourism and State Teertha had reported growth in the quarter ending June 30, 2022.
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