Shares of IRCTC surged to a record high after the company's board approved a stock split, aimed at widening its shareholder base and making shares more affordable for small investors. Here is all you need to know.
IRCTC stock surges 32% in a month, hits all-time high
This PSU railway stock has rallied 160 per cent against its 52-week low of Rs 774.85, touched on March 26, 2020
BusinessToday.In | March 4, 2021 | Updated 17:25 IST
IRCTC share price rises 7% on Thursday
Shares of IRCTC, the catering and e-ticketing arm of Indian Railways, jumped nearly 7 per cent to hit all-time high of Rs 2,014.60 on the BSE amid spurt in volume trade. The PSU railway stock breached its previous high of Rs 1,995, touched on February 25, 2020. The stock has rallied 32 per cent over one month period as compared to less than 1 per cent gain in the BSE benchmark Sensex. The recent rally in the stock is attributed to the Offer for Sale (OFS) offered by the company in December 2020. The investors also remained bullish on the stock on roll-out of the COVID-19 vaccine, which is likely to improve sentiment for the travel industry.
Synopsis
Out of the around 800-odd companies that have reported their shareholding patterns for the December quarter so far, only 64 have seen a rise in MF holdings.
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Mutual funds sold stocks worth some Rs 71,000 crore in the third quarter of the current financial year.
NEW DELHI: Mutual funds were seen buying over 1 per cent stake in at least 14 BSE-listed firms during the December quarter, even as they sold stocks worth some Rs 71,000 crore.
Out of the around 800-odd companies that have reported their shareholding patterns for the December quarter so far, only 64 have seen a rise in MF holdings. Domestic funds sold stocks worth Rs 26,427.83 crore in December, Rs 30,760 crore in November and Rs 14,492 crore in October, Sebi’s monthly bulletin showed.