Shares of Indian Railway Catering and Tourism Corporation (IRCTC) jumped 5% with the opening bell in Thursday's session after government announced that 200 trains will resume services from June 1.
India Railways issued a list of 200 passenger trains that'll start ferrying passengers from June 1 and booking will commence at 10 am on May 21. Among 200 trains, 17 are Jan Shatabdi and five Duronto Express trains.
IRCTC share price jumped 5% intra day to the high of 1400.70 in opening session as against the last closing value of Rs 1334 on BSE.
The IRCTC stock has risen 49% since the beginning of the year 2020. However, the stock has gained 0.81% in one week and fallen 4.21% in one month.
Market capitalisation of IRCTC stood at Rs 22,411 crore. The stock saw only buyers and no sellers in morning trade. IRCTC stock trades higher than its 20, 50, 100 and 200-day moving averages but lower than 5-day moving averages.
The recent rise in IRCTC share price is on the back of investors' expectations that it will make a stellar recovery in terms of revenues and profitability post easing of lockdown.
Indian Railways has also asked zonal railway and IRCTC to take necessary steps to open catering and vending units at stations, but said that food plazas and refreshment rooms will open only for takeaways.
This is the second slew of special passenger services that marked the Railways graded restoration of its trains which were suspended due to the coronavirus pandemic.