Site icon Wide News Hub

IRCTC Stock Soars 14%, Achieves 52-Week Peak with Unprecedented Turnover: Unveiling the Factors Behind the Surge

IRCTC Stock Soars 14%, Achieves 52-Week Peak with Unprecedented Turnover: Unveiling the Factors Behind the Surge

IRCTC shares surged by 13.82% to Rs 888.90, surpassing the previous close at Rs 780.95 on the BSE. The railway stock commenced trading with an opening value of Rs 782.05.

In the afternoon session, Indian Railway Catering and Tourism Corporation (IRCTC) shares surged by 14%, marking a new 52-week high. The stock rose by 13.82% to Rs 888.90 from the previous close of Rs 780.95 on the BSE, opening at Rs 782.05. With a significant turnover of Rs 271.51 crore, 32.29 lakh shares were traded on the BSE. IRCTC claimed the second-highest turnover, with Sapphire Foods stock leading at Rs 534.59 crore. The market cap of IRCTC increased to Rs 70,548 crore.

From a technical standpoint, IRCTC exhibits an RSI of 71.4, indicating it’s in the overbought zone. With a one-year beta of 0.2, the stock displays low volatility. As a large-cap stock, it surpasses the 5-day, 10-day, 100-day, 150-day, and 200-day moving averages.

IRCTC disclosed a 30.4% surge in net profit, reaching Rs 294.7 crore compared to Rs 226 crore in the same period last year. The revenue from operations also witnessed a robust growth of 23.5%, rising to Rs 995.3 crore from Rs 805.8 crore in the year-ago period.

Regarding operations, the company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the September quarter reached Rs 366.5 crore, reflecting a notable growth of 20.2% compared to the previous year’s Rs 304.9 crore in the same period.

Exit mobile version