The share gained as much as 132 percent to hit an intraday high of Rs 743.80 while the day's low was Rs 625
Analysts had expected the stock to return 80-90 percent in the long term, but it was achieved on the debut day itself. They, however, feel that the stock will give consistent returns in the long run.
IRCTC has a dominant market share of 72 percent in Railway E-Ticketing bookings.
The shareholding of government in the railways' tourism and catering subsidiary will be reduced to 87.40 percent.
The company's business model, strong earnings, big customer base and consistency in business segments has seen domestic as well as global brokerages give a subscribe call for the IPO.
IRCTC operates in four business segments--internet ticketing, catering, packaged drinking water and travel and tourism.
Most analysts are positive and have given a buy recommendation for the IPO, thanks to its reasonable valuation and competitive strength of the company
Indian Railway Catering and Tourism Corporation‘s (IRCTC) plan to see itself listed on the stock exchange might hit a roadblock as the waiver of service charge by the government on online ticket booking could lead to losses making the stock unattractive, reports Economic Times.
Sources told the Indian Express the announcement on listing of the 3 PSUs came barely two days after the issue was first discussed at a meeting on Monday.
Railways today launched a new ticketing App, IRCTC Rail Connect, to facilitate booking of train tickets in a faster and easier way.
"MobiKwik collaborated with Indian Railways to digitise payments on the IRCTC app and IRCTC FoodOnTrack app this year, and now we are powering payments for tatkal online that will help users book tickets almost instantly," MobiKwik Co-founder Upasana Taku said in a statement today.
Personal insurance service to start at Rs 0.92 per ticket and will provide an insurance for Rs 10 lakh, says AK Manocha CMD of IRCTC.
The scheme being called the world's cheapest insurance scheme so far intends to cover almost 10 crore railway passengers in a year.
The cash back offer is valid only for meals booked through IRCTC and having a value of more than Rs 300 in a single order.
Between May 2009 and April 2011, the railway ministry announced a slew of measures that struck at the core of IRCTC's business model. In these situations, 99 times out of 100, you would expect a PSU to give up and die. But, under Tandon‘s leadership, IRCTC not only survived a near-death blow, but is now scripting a glorious comeback.
With an aim to cater to the growing number of outbound tourists, the Indian Railway Catering and Tourism Corporation (IRCTC) has come up with its first international package for Dubai in August. IRCTC, a PSU of Indian Railways, is already involved in organising domestic tour packages in the country.
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