IRCTC zooms 97% from April low and now among 100 most valuable firms on BSE
Published On: Monday, September 6, 2021 | By: Team KnowMyStock
Indian Railway Catering and Tourism Corporation (IRCTC) entered the top 100 most valuable listed companies' club after its stock hit a new high of Rs 3,041.20, up 6 percent on the BSE in intra-day trade today(6th Sept.2021). The stock has rallied 97 percent from its low of Rs 1,541 touched on April 19, 2021. With Rs 48,213 crore market capitalisation (market cap) as of 11:44 am, IRCTC stood at 95th position in the overall market cap ranking on the BSE, the exchange data shows. The state-owned company surpassed Colgate-Palmolive (India), Cholamandalam Investment and Finance Company, Hindustan Aeronautics (HAL), Balkrishna Industries, ACC, and Bandhan Bank in the market cap ranking today.
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.
On August 12, 2021, the board of IRCTC approved a stock split in the ratio of 1:5 to enhance the liquidity in the capital market, widen the shareholder base and make the shares affordable to small investors. The board decided to split one equity share of the company at a face value of Rs 10 into five equity shares at a face value of Rs 2 each. This is subject to the approval of the Ministry of Railways.
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