IRCTC shares fall 20% in intraday trade amid profit booking - Check details

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) fell almost 20 per cent on the intraday basis on the NSE as profit booking in this stock continued on the second straight day. The stock eventually closed at Rs 4,432.95 around 2:40 pm, down over 17 per cent in the BSE. The stock had a one-way rally for five trading sessions. 

See Zee Business Live TV Streaming Below:

On Tuesday, the stock closed at Rs 5,363, down 8 percent on the BSE after hitting the market capitalization (Mcap) of Rs 1 lakh crore. The scrip had hit a record high of Rs 6,393 per share in Tuesday's early session, as per BSE.

It can be noted that IRCTC is a “Mini Ratna (Category-I)” Central Public Sector Enterprise under the 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.