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Here's what caused IRCTC’s runaway share price to derail

Retail investors have bought into the rally even as institutions exited. Most answers on what led to the crash can be found in the F&O market

October 21, 2021 / 10:01 AM IST
Here's what caused IRCTC’s runaway share price to derail

Passengers travel on an overcrowded train on the outskirts of New Delhi February 26, 2015. India will increase investment in its overloaded railway network to 8.5 trillion rupees ($137 billion) over the next five years, the government said on Thursday, promising to modernise existing tracks and introduce faster trains. REUTERS/Ahmad Masood (INDIA - Tags: BUSINESS TRANSPORT POLITICS TPX IMAGES OF THE DAY) - RTR4R80A

  IRCTC’s shares have been on a wild run. From Rs 1906 a share at the start of June 2021, the stock touched a high of Rs 6424.4 on October 19th but then crashed sharply by over 30 percent in a day to close at to Rs 4433.6 on October 20th. The market capitalisation of IRCTC declined from a high of Rs 1.02 lakh crore on Tuesday to Rs 72,140 crore on Wednesday. (image) The only fundamental reason supporting this price...

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