Keynotes Financial Opiniery has come out with its report on IRCTC. The research firm has recommended to "Subscribe'' the IPO in its research report as on September 29, 2019
➢Incorporated in 1999, state owned Indian Railway Catering and Tourism Corporation limited (IRCTC) is a wholly owned subsidiary of Indian Railways.
➢ IRCTC handles tourism, catering, online ticket booking services and provides packaged drinking water in trains and at railway stations in the country.
➢ The company was conferred as a Mini-Ratna or Category –I Public sector enterprise by the Indian Government in 2008.
➢ IRCTC also provides non-railway services including budget hotels, e-catering and executive lounges to create a non-stop solution for customers.
Valuation and Outlook
For FY19, the EPS for the company is 17.04 & book value per share is 65.18. Hence, P/E & P/B ratio at higher end of the band is 18.77 & 4.90 respectively. Hence, at the higher band, the valuation is at premium in comparison to its peer.
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