IRCTC share rises 6% after offer for sale ends

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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