After a stellar debut on the domestic bourses, Indian Railway Catering and Tourism Corporation (IRCTC) shares zoomed over 200 per cent in just 31 days. Since listing, IRCTC shares have been on an upward trajectory on the Bombay Stock Exchange (BSE), hitting a fresh record high of Rs 981.35 in intraday trade on Wednesday against the issue price of Rs 320, delivering a 206 per cent return for investors.
This means that investors who have held the shares till date are sitting on a gain of 206 per cent in 31 days. Against the listing price of Rs 644, the IRCTC stock has delivered a return of 52 per cent during the same period.
As on November 13, market capitalisation of IRCTC stood at Rs 14,908 crore compared to Rs 10,736 crore on the listing day.
On Wednesday, IRCTC share price gained as much as 5.20 per cent to touch a fresh high of Rs 981.35, against the previous close of Rs 932.80 on BSE. Its market capitalisation rose to Rs 15,575 crore on BSE. The stock, however, closed marginally lower by 0.11 per cent at Rs 931.80 apiece, in line with the benchmark indices. The BSE Sensex closed 0.57 per cent lower at 40,116 and the NSE Nifty ended at 11,840.45, down 0.61 per cent.
The ticketing arm of Indian Railway, IRCTC made its market debut on October 14 with shares listing at Rs 644 on BSE against the issue price of Rs 320, a jump of 101.25 per cent. The Rs 645-crore initial public offering of the mini-ratna firm was subscribed almost 112 times, making it the most successful share sale in recent times. This also happens to be best subscribed IPO for a state-owned entity.
The government which owned 100 per cent in IRCTC sold 12.6 per cent stake in the firm, as part of its divestment programme for the financial year 2019-20. The issue involves sale of 2.01 crore equity shares of face value Rs 10 each in a price band of Rs 315 to Rs 320.
Edited by Chitranjan Kumar
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