Shares of Indian Railway Catering and Tourism Corporation (IRCTC) have delivered low returns of 7% in the last two years. IRCTC shares, which closed at Rs 794.40 on December 20, 2021 were trading at Rs 854 today, clocking 7.5% returns during the period. BSE 100 index of which IRCTC is a component, surged 27.85 in two years. In the current session, IRCTC stock climbed 5.4% intraday to Rs 860 against the previous close of Rs 815.55 on BSE. The railway stock opened lower at Rs 801.65. Total 12.20 lakh shares of the firm changed hands amounting to a high turnover of Rs 102.55 crore on BSE. Market cap of IRCTC rose to Rs 68,548 crore.
A move above 21,500 might extend the rally towards 21,800 on the Nifty. On the data front, Nifty PCR is above 1.45, and this might result in some consolidation.
At present, IRCTC is managing catering services for various ministries, government departments, autonomous bodies including judiciary and universities. It has already set up its hospitality outlets in 9 such organisations.
IRCTC said its customers can avail special offers by booking their air tickets for their planned vacations and the New Year, which is less than 100 days away.
HDFC Bank has declined from a high of Rs 1,758 levels to a low of Rs 1,558 levels. In last 9 months, it has found support in the range of Rs 1,530-1,580 on multiple occasions.