IRCTC shares have so far this year more than doubled from Rs 1,437 Shares of the catering and ticketing arm or Indian Trains, Indian Train Catering and Tourist Corporation (IRCTC), leapt as much as 9.58 per cent to hit record high of Rs 3,297.90 on the back of heavy trading volumes.
As many as 6.06 lakh IRCTC shares altered hands on the BSE compared to an average of 1.03 lakh shares traded daily the previous 2 weeks, information from BSE showed.
With today's rise in IRCTC share price, its market capitalisation of Rs 50,000 crore.
IRCTC shares have been on financiers' radar since the company's board announced stock split last month.
IRCTC had last month announced a stock-split in the ratio of 1:5 to assist improve liquidity in the capital market, widen investor base and make the shares inexpensive to small investors.
A company's authorised share capital remains the same in a stock-split, but the market price declines in proportion to the split ratio and this results in a greater number of shares readily available in the secondary market.
The reduction of the market cost and increase in liquidity makes the shares inexpensive to retail buyers.
IRCTC has likewise been the recipient of the opening of the economy where people have actually begun to take a trip using its travel website, experts said.
IRCTC shares have up until now this year more than doubled from Rs 1,437, outperforming the Sensex which has actually advanced more than 20 percent.
IRCTC stock has actually surged a tremendous over 400 percent given that its listing on October 14, 2019.
Since 2:35 pm, IRCTC shares traded 9.12 percent greater at Rs 3,284, exceeding the Sensex which was up 0.21 percent.