The IPO was open for subscription between September 30 - October 1, , and was subscribed times in these 3 days. The stock has been a favorite amongst analysts and investors alike. Most experts have a bullish view of the stock and see a potential of a further rise even after the massive returns generated since its debut in the past 2 years.
The stock has surged nearly percent in the last 6 months and over percent in the past 3 months. The record date for the same has been fixed for October 29, As the name suggests, stock split means splitting a single stock into 2 or more stocks. No additional shares get issued in a stock split but existing shares get multiplied. It increases the liquidity of the stock by decreasing its stock price, thus making it more affordable for investors.
Along with the stock split announcement, an increase in railway bookings as the economy opens up and more people looking to travel on the back of vaccination drives and decrease in COVID cases have proven to be very positive for the stock.
IRCTC is in a pure monopoly business as it is the only authorized firm to provide online tickets and catering services to the Indian railways. This along with its robust financials as well as a debt-free status had made it a favorite among all kinds of investors.
In the September quarter, the retail holding in the stock jumped bps to The mutual funds hold 4. Its revenue from operations surges Going ahead, the expansion plans of the firm showcases the further potential of an upside. The company has been expanding its business to bus, air tickets as well as tour and travel planners.
This could open up a whole new potential opportunity for the firm to strengthen its position. Further, the firm is also looking to apply for a payment aggregator license from the RBI, which will not only make it easier for customers but also bring in additional revenue. Further, the easing of the economic condition post the pandemic and more people willing to travel will continue to be a positive for the firm. 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.
It has a dominant position in online rail bookings and packaged drinking water with around 73 percent and 45 percent market share, respectively. Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image. Read this news in brief form. Click here X. Share Via. The issue will close on October 3. Also read: Indian Railways mulls over plan to run 50 routes for private players IRCTC is the Indian Railways tourism arm which sells train tickets online, provides catering service to railways and provides packaged drinking water at railway stations and trains.
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