BUSINESS

IRCTC Soars 20% in One Week

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) hit a new high of Rs 4,512 after surging 8 per cent on the BSE in Wednesday’s intra-day trade, on the back of heavy volumes, ahead of 1:5 stock split. The trading volumes on the counter more-than-doubled today, with a combined 7.02 million equity shares having changed hands on the NSE and BSE till 11:19 am.

In the past week, the stock of the state-owned travel support services company has rallied 20 per cent after the company, on September 29, 2021, said that it has fixed October 29, 2021, as the record date, to ascertain the name of shareholders entitled for subdivision/split of equity shares of Rs 10 each into five (5) equity shares of the face value of Rs 2 each. In comparison, the S&P BSE Sensex was up 0.54 per cent during the period.

In the past month, the market price of IRCTC has soared 50 per cent compared to a 2.5 per cent rise in the S&P BSE Sensex. While, in six months, it has zoomed 106 per cent, as against a 13 per cent gain in the benchmark index.

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