IRCTC made its market debut on October 14, 2019. Since then it has more than doubled the investors’ wealth, rising 118 per cent from its listing price of Rs 644 per share
IRCTC share price rose as much as 3.1 per cent to Rs 1449.85 apiece on BSE in Wednesday’s trade ahead of December quarter results due later in the day. Around 10.30 AM, IRCTC was trading 2.36 per cent higher at 1439.25 apiece. IRCTC hit an all-time high of Rs 1,562 last week. IRCTC made its market debut on October 14, 2019. Since then it has more than doubled the investors’ wealth, rising 118 per cent from its listing price of Rs 644 per share.
In Budget 2020, it was proposed that more Tejas-Like trains will be launched. IRCTC is all set to start its third private train Indore-Varanasi Tejas Express. It will be the first Tejas Express which will run overnight. Currently, IRCTC operates Tejas Express on the Lucknow-Delhi route and on the Mumbai-Ahmedabad route.
Since Budget 2020, IRCTC shares have rallied 17 per cent. On Budget day the IRCTC closed at Rs 1,237 apiece on BSE. Last month, the brokerage company Prabhudas Lilladher in a research report said “being a monopoly, IRCTC will have first right to cater to the unmet demand which is currently captured by players like Bisleri, Kinley and Aquafina”.
IRCTC had reported a rise of 14 per cent in net profit for the half-year period ended September 30, 2019. IRCTC’s total earnings from internet ticketing services in the April-September period jumped 80.8 per cent to Rs 199.3 crore from the net earnings of Rs 110.23 crore in the corresponding period of the previous fiscal.
Effective from September 1, 2019, IRCTC has reinstated service charge for online bookings at the rate of Rs 15 for non AC and Rs 30 for AC. It has also been conferred the status of Mini Ratna by the government of India. “IRCTC is a monopolistic entity authorised to provide packaged drinking water, catering, and online ticket booking services to passengers travelling by Indian Railways. It has a dominant position in online rail bookings/packaged drinking water with nearly 73%/45% market share respectively,” Prabhudas Lilladher said in a research note.