Indian Railway Catering and Tourism Corporation Ltd (IRCTC) has become the ninth public sector entity to join the elite club of ₹1 trillion market capitalization (m-cap) with its shares surging over 300% so far this year.
Other 8 PSU who already achieved milestone
Earlier, PSU stocks such as State Bank of India, Coal India, NMDC Ltd, Indian Oil Corp. Ltd, Power Grid Corp. Ltd, SBI Life Insurance, Bharat Petroleum Corp. and SBI Cards have achieved this milestone.
Stock Tracking
The stock hit a record high of ₹6,287.95, gaining as much as 7.1%. At 9.20 am, the scrip was trading at ₹6,283 on the BSE, up 7% with its m-cap at ₹1.01 trillion.
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.
Since listing, the stock has surged over 18-fold or 1,737%. So far this year, it has gained 308.1% and so far this month it has advanced 58%.
IRCTC Performing well after pandemic
In the June quarter, the number of tickets booked per day was 63.7 million and this has already improved meaningfully in July and August.
Catering segment revenues were higher than estimates which led to a beat on the revenue front.
The revenue from internet ticketing in the quarter ₹149 crores split as ₹104 crore as convenience revenues and ₹45 crore from non-convenience fees.
In Rail segment Neer, the present capacity is at 1.48 million litre per day with utilization rate of 32 to 35% in the first quarter.
About IRCTC
IRCTC is the only entity authorised by the Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.
It has a dominant position in online rail bookings and packaged drinking water with around 73 per cent and 45 per cent market share, respectively.
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