IRCTC share price hits 52 week high
Extending the bull trend for Consistently fourth time the IRCTC share price today finally touched a new 52 week high of Rs.799.95 per share on NSE during morning deals.
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IRCTC share price today opened 1at Rs. 799.95 per share level, which turned out its new 52 week high as the stock corrected from its opening price and made intraday low of Rs. 785.50 per share which is still above its Wednesday close of Rs.777.95 on NSE.The stock is expected to continue its uptrend and can go up to Rs. 850 per share level if it would breaches Rs.800 hurdle.
Rising for a fourth straight day, IRCTC shares opened higher and rose further by 2.82 percent to hit a year high of Rs.800 per share on BSE. Around 2.5 lakh shares of the company were invested. The stock has rallied more than 6 percent in the four trading sessions to Thursday. Shares have rebounded around 44 percent from its 52 week low levels hit on March 29, 2023.
Read Also : India and Iran Ink Long-Term Deal For Chabahar Port OperationsThe catering services arm of the indian railways reported a 30 percent increase in net profit to Rs.295 crore for July-September against Rs.226 crore a year ago.Its revenue operations in the quarter rose by 23 percent to Rs. 995 crore against Rs. 806 crore in Q2 of FY24.
According to analysts, the share price target of IRCTC to rise and reach value of Rs.858 in the first quarter of 2025. This growth can be attributed to the company's expansion plans and the overall positive outlook for the travel and tourism industry. Indian Railways Catering and Tourism Corporation is an Indian public sector undertaking that provides ticketing , catering, and tourism services for the Indian Railways. It was established on 27 September 1999 and the only entity that is authorized to provide certain services to the Indian Railways , including online ticketing, catering, and selling drinking water on trains and at railway stations.
Read Also : CBDT releases new functionality in AIS for taxpayersThe IRCTC was listed on the National Stock Exchange market in 2019, following which the Government of India's holding was reduced to 87 percent, with the remaining shares being publicly traded. In December 2020, the Government of India divested another 20 percent reducing its holding in the IRCTC to 67 percent.
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