New Delhi: Shares of Indian Railway Catering and Tourism Corporation (IRCTC) hit new highs on Tuesday, with a market capitalization of Rs 1 lakh crore.
IRCTC today hit a new 52-week high of Rs 6,375.15 on the BSE. [ये भी पढ़ें: सेंसेक्स करीब ४०० अंक चढ़ा, ६२ हजार अंक के पार पहुंचा; निफ्टी ताजा रिकॉर्ड पर खुला]
IRCTC had concluded its initial public offering of Rs 645 crore in 2019, and thereafter made its debut in the stock market. Shares listed on both BSE and National Stock Exchange (NSE) were quoted at a price band of Rs 315-320 per share. Looking at the stellar performance since its inception, IRCTC shares have seen a jump of 712 per cent.
Investors are also looking overbought on IRCTC shares since July 30, 2021, after the company announced the stock split plan. On 12 August 2021, the IRCTC board approved a stock split in the ratio of 1:5 to increase liquidity in the capital market.
IRCTC is the only entity authorized by the Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.
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