IRCTC share price jumps over 2% ahead of Jan-Mar quarter results, even as Sensex, Nifty fall

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Updated: June 29, 2021 4:25 PM

IRCTC share price jumped as much as 2.3 per cent to Rs 2,125.65 apiece in intraday deals on BSE ahead of January-March quarter results

IRCTC share price, Indian Railway Catering and Toursim Corporation stock price, Indian Railway Catering and Toursim Corporation share price todayAnalysts say that IRCTC is forming higher high and higher low chart formation which is bullish in nature

IRCTC share price jumped as much as 2.3 per cent to Rs 2,125.65 apiece in intraday deals on BSE ahead of January-March quarter results. Indian Railway Catering and Tourism Corporation shares hit a new 52-week high of Rs 2,184.15 apiece earlier this month. Indian Railways has planned to resume special train services in view of the demand for train traveling among passengers on the back of decline in COVID-19 daily cases across the country. On June 26, 2021, Indian Railways restored the services of Mumbai-Pune Deccan Express with a Vistadome coach.

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IRCTC share price in last 10 days

In today’s session, IRCTC share price hit a high of Rs 2,125.65 and a low of Rs 2,081 apiece. So far in the trade, a total of 1.13 lakh shares of IRCTC have exchanges on BSE, and 10.80 lakh units on NSE. The stock has gained 12 per cent so far in June 2021. IRCTC stock has been trading in the Rs 2,011-2,125 range for the last 10 days. Analysts say that IRCTC is in a sideways trading range of 2000-2150. “Any breakout on either side will be possible only on the penetration of these levels. On the lower side 1880-1900 is the support zone and above 2150 one can see resistance near to 2250-2280 levels,” Vishal Wagh, Head of Research, Bonanza Portfolio Ltd, told Financial Express Online.

IRCTC share price more than triples since listing

Since listing, IRCTC stocks have zoomed over three times or 230 per cent, however from the issue price, it has soared more than six times or 564 per cent. Analysts believe that the stock is holding its short term average and the positive momentum would continue. “We expect IRCTC stock to cross its all-time high of 2184 levels. Stochastic and RSI on daily charts also coincide with our view as both the indicators are in bullish mode,” Vikas Jain, Senior Research Analyst, Reliance Securities, told Financial Express Online.

IRCTC – History, facts

IRCTC made its market debut on October 14, 2019, and was listed at Rs 644 against its issue price of Rs 320 per share. The Rs 638-crore IRCTC IPO was subscribed 112 times during September 30 and October 3, 2019. The issue was sold in a price band of Rs 315-320 per share. Indian Railways operates in four business segments—internet ticketing, catering, packaged drinking water, under the Rail Neer brand, and travel and tourism. IRCTC offers a monopolistic opportunity in online rail ticketing, sale of Packaged Drinking Water (PDW) and catering services for Indian Railways. It has also been conferred the status of Mini Ratna by the government of India.

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