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IRCTC shares hit a new record, zoom 462% against issue price

Feb 19th, 2020 10:20 pm | By | Category: LATEST NEWS

Mahendra Pratap Mall, CMD (IRCTC)

Mahendra Pratap Mall, CMD (IRCTC)

New Delhi: State-run IRCTC (Indian Railway Catering and Tourism Corporation) shares hit a fresh record high of Rs 1,798 apiece on Wednesday as it climbed 9.6 percent ahead of the commercial run of Kashi Mahakal Express from February 20. The jump comes a week after IRCTC recorded a 179.65 percent rise in Profit after Tax (PAT) year-on-year at Rs 205.80 crore in the December quarter of FY2019-20. Indian Railway’s catering arm had posted a net profit of Rs 73.59 crore in the corresponding quarter of the last year.

IRCTC shares have zoomed 462% against its issue price IRCTC made its debut on the bourses on October 14, 2019. With Wednesday’s rally, IRCTC shares have zoomed 462 percent against its issue price of Rs 320 per share, and 179 percent from its listing price of Rs 644 per share on the Bombay Stock Exchange (BSE). Since Union Budget 2020 was presented earlier in February, IRCTC shares have rallied 45.3 percent. On the Budget day, IRCTC shares had closed at Rs 1,237 apiece on BSE.
M P Mall is the CMD of IRCTC.

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