IRCTC share climbs 16% amid rising hopes over COVID-19 vaccine
BusinessToday.In December 4, 2020
IRCTC share gained nearly 16% in trade today as Sensex and Nifty hit record highs on progress over Covid vaccine and hopes of additional economic stimulus in the US. The stock touched an intraday high of Rs 1,596, rising 15.93% against previous close of Rs 1,376 on BSE.
IRCTC stock has gained 14.52% in the last 2 days. IRCTC share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. IRCTC stock has gained 77.11% in one year and risen 66% since the beginning of this year. The stock has climbed 19% in one week.
Market cap of the state-owned firm rose to Rs 24,794 crore.
However, the stock is still off its 52-week high of Rs 1,995, hit earlier in February. On October 14 last year, the Indian Railways firm made its stock market debut with IRCTC share listing at Rs 644 on BSE and Rs 626 on NSE.
The rise in stock of public sector firm came amid share of country's biggest airline operator InterGlobe surging 5% to Rs 1,732 and stock of SpiceJet rising 9% to Rs 88.25. The up move in airline stocks occurred after the central government allowed domestic airlines to deploy up to 80 per cent of their pre-Covid flight capacity from an earlier 70 per cent.