Stocks in News – IRCTC shares – 10 times returns in 2 yrs as stock scales new peaks – FULL JOURNEY since October 2019 IPO

Stocks in News – IRCTC shares - Indian Railway Catering and Tourism Corporation Limited share was under the ban. This is the first time IRCTC shares came under the ban after entering the F&O (Futures & Options) markets. This came into the F&O Segment in the March Series.

The Initial Public Offering (IPO) of the IRCTC shares was launched in October 2019 at an issue price of Rs 320. It has only moved from strength-to-strength since then. The prices have gone up by almost 10 times. The listing was 2 times the issue price.

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The stock came into the F&O segment on 26 February and it was trading around Rs 1700 at that time. Since then the stock has moved up almost 90 per cent.

One of the recent big-ticket developments was the announcement by the company on the sub-division of shares. The decision was announced on 30 July 2021. That triggered the rally in this stock and it has move up by over 40 per cent since then.

The stock has moved upwards over the last five trading sessions and have moved 20 per cent up. The rally has been accompanied by large volumes.

On 7 September, this stock traded with record volumes – its highest ever after entering in the F&O segment.

However, the delivery volumes in this stock have not been impressive, he said. Over a period of one month, the delivery volumes have been around 19.4 per cent and if August volumes are considered, it is around 20 per cent.

Zee Business Managing Editor Anil Singhvi said that the price movement requires some brakes now. He said that the stock has been on a bull run and any fresh position should be made only if there is some correction.

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IRCTC के IPO से अब तक के सफर पर एक नजर

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— Zee Business (@ZeeBusiness) September 9, 2021

Existing shareholders must keep the stock as the stock and the company are very strong, he said. View is positive and bullish, he concluded.