IRCTC shares up 5% as train reservation booking set to open; stock price more than doubles in less than a year

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Published: May 11, 2020 11:37 AM

Since April, IRCTC share price has gained nearly 21 per cent as of Friday's close. IRCTC shares touched an all-time high of Rs 1,995 in the second month of the calendar year 2020

IRCTCIn the previous fiscal, IRCTC delivered more than 52 per cent return to the investors. Image: PTI

IRCTC share price jumped 5 per cent to hit the upper circuit at Rs 1,302.85 apiece on BSE in Monday’s trade as the Ministry of Railways announced that Indian Railways will gradually resume operations of passenger trains from May 12. IRCTC shares touched an all-time high of Rs 1,995 in the second month of the calendar year 2020. Since then, IRCTC shares slumped a whopping 35 per cent as compared to a 27 per cent fall in the BSE Sensex. IRCTC shares were listed on bourses on October 14, 2020, at a listing price of Rs 644 per share. In less than a year, the share price has more than doubled so far. While the issue price of IRCTC shares was Rs 320 per share.

In the previous fiscal, IRCTC delivered more than 52 per cent return to the investors. IRCTC has been conferred the Mini Ratna (Category-1 PSE) status by the government of India. Since April, IRCTC share price has gained nearly 21 per cent as of Friday’s close. However, since the announcement of nationwide lockdown on March 24, IRCTC shares have gained 52 per cent.

Also Read: Indian Railways resumes passenger train services! Full list of destinations, fare, ticket rules; top facts

In the wake of the rising coronavirus cases in India, all the passenger train services were suspended due to nationwide lockdown announced on March 24, 2020. Passenger train operations will resume initially with 15 pairs of trains. Booking for reservation in these trains will start at 4 PM from today and will be available only on the IRCTC website, Ministry of Railways notification read. “Ticket booking counters at railway stations will remain closed and no counter tickets (including platform tickets) will be issued. These trains will be run as special trains from New Delhi station connecting Dibrugarh, Agartala, Howrah, Patna, Bilaspur, Ranchi, Bhubaneswar, Secunderabad, Bengaluru, Chennai, Thiruvananthapuram, Madgaon, Mumbai Central, Ahmedabad and Jammu Tawi,” the notification added.

IRCTC posted a 179.65 per cent on-year rise in the profit at Rs 205.80 crore in the third quarter of the financial year 2019-20, as compared to a profit of Rs 73.59 crore in the corresponding quarter of last year.

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