IRCTC Mcap crosses Rs 1 lakh crore, share closes at a loss of 7%

The market capitalization (Mcap) of Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) crossed the Rs 1 lakh crore mark on Tuesday, October 19.

Shares of the company closed at Rs 5454.85, down by 422.85 points or 7.19 percent on NSE. 

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It can be noted that IRCTC is a “Mini Ratna (Category-I)” Central Public Sector Enterprise under Ministry of Railways, Government of India. 

IRCTC was incorporated on September 27, 1999 as an extended arm of the Indian Railways to upgrade, professionalize and manage the catering and hospitality services at stations, on trains and other locations and to promote domestic and international tourism through development of budget hotels, special tour packages, information & commercial publicity and global reservation systems. 

As per the information provided by the IRCTC website, the authorized capital of the company is Rs 250 crore and paid-up capital is Rs 160 crore, fully subscribed by Ministry of Railways, Government of India.