IRCTC Share Price: IRCTC stock slips after inking Rs 31.40 crore deal with NBCC Services

IRCTC Share Price: A day after IRCTC signed an MoU with NBCC Services for the renovation of its office, shares of the railway company touched the day's high of Rs 694.30 in morning deals on Wednesday (September 13). The shares, however, lost early gains and ended the day down 0.17 per cent, or Rs 1.15, at Rs 686.95 each.

Indian Railway Catering and Tourism Corporation (IRCTC) said on Tuesday that it had signed a Memorandum of Understanding (MoU) with NBCC Services Limited (a wholly owned subsidiary company of NBCC Limited) on September 12, 2023, for the planning, designing, and execution of interior works for its upcoming office space at World Trade Centre, Nauroji Nagar, New Delhi, at a tentative cost of Rs 31.40 crores.

Last week, the railway ministry decided that catering facilities in all coaches/trains etc., booked at full tarrif rates should be arranged by IRCTC.  

IRCTC share performance

The company's share has been down 2.93 per cent in the last five trading sessions, while it has jumped 5.69 per cent in the last one month. 

The IRCTC stock has gained 13.87 per cent in the last six months, but it has taken a plunge of 3.63 per cent in the last one year.

Compared to this, the benchmark Nifty 50 is up 2.57 per cent in the last five trading sessions, while it has jumped 3.27 per cent in the last one month.

The benchmark has soared 17.76 per cent in the last six months, while its rise in the last one year is 11.48 per cent.