IRCTC m-cap surpasses Rs 1-trillion; stock zooms 293% in 6 months

At 09:32 am, IRCTC was trading 6.9 per cent higher at Rs 6,283.50, with a market-cap of Rs 100,612 crore

Indian Railway Catering and Tourism Corporation (IRCTC) joined the elite club of companies commanding Rs 1-trillion market capitalization (m-cap) on the BSE, after its share price hit a new high of Rs 6,332.25 in the intra-day trade on Tuesday. The shares rallied nearly 8 per cent today and have zoomed 33 per cent in the past five trading days.

At 09:32 am, IRCTC, which is engaged in the travel support services business, was trading 6.9 per cent higher at Rs 6,283.50, with a market-cap of Rs 100,612 crore, BSE data shows. In comparison, the S&P BSE Sensex was 0.59 per cent higher at 62,131 points. Currently, IRCTC stands at 57th position in the overall m-cap ranking. With today’s feat, the company has surpassed m-cap of IndusInd Bank and ICICI Prudential Life Insurance Company.

In the past six months, the stock has zoomed 293 per cent from a level of Rs 1,612, as compared to a 30 per cent rise in the S&P BSE Sensex. Moreover, since August, the market price of IRCTC Share Price has more than doubled or has risen 172 per cent after the company, on July 30, 2021, announced a stock split plan. Further, the board of IRCTC approved a stock split in the ratio of 1:5 on August 12. IRCTC 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. The scrip will turn ex-date for stock split on October 28, 2021.

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