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IRCTC share rises 6% after offer for sale ends

IRCTC share gained up to 5.82% to Rs 1,508 against previous close of Rs 1,425 on BSE

twitter-logoBusinessToday.In | December 14, 2020 | Updated 12:49 IST
IRCTC share rises 6% after offer for sale ends
IRCTC share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

Share of IRCTC rebounded from Friday's low in early trade today after the end of two day offer for sale (OFS). IRCTC share gained up to 6.12% to Rs 1,508 against previous close of Rs 1,421 on NSE.

On BSE, IRCTC stock rose up to 5.82% to Rs 1,508 against previous close of Rs 1,425.

The railways stock has gained after 4 days of consecutive fall. The share trades higher than 20 day, 50 day, 100 day and 200 day moving averages but lower than 5 day moving averages.

The share has risen 65.84% in one year and gained 58.11% since the beginning of this year.

IRCTC OFS ends today: Will shareholders gain from current level? Market cap of the firm rose to Rs 23,648 crore.

On Friday, IRCTC share ended 1 percent lower on the second and last day of OFS. Share of IRCTC slipped 3.58% intra day to Rs 1,400 against previous close of Rs 1,451 on BSE.

The offer for sale (OFS) of Indian Railway Catering and Tourism Corp (IRCTC) for non-retail investors was subscribed 198 percent on the first day of bidding on December 10.

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