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IRCTC
was established on 27 September 1999, as a public sector undertaking completely owned by the Government of India through the Indian Railways. In 2018, then Railway Minister Piyush Goyal stated that the government was exploring opportunities for disinvestment of IRCTC.
Key points about the IRCTC IPO listing
Listing Price: Rs 651 per share.
Issue Price: Rs 320 per share.
Premium: 103.4%.
Listing Date: October 14, 2019.
Major Business Activities:
Catering:
Offers food and beverage delivery services to train passengers, serving over 16 lakh meals daily through 2200 partners.
Provides onboard catering services in 1,265 trains, including Vande Bharat, Rajdhani, Shatabdi, Duronto, Gatimaan & Tejas Express.
Offers e-catering services through its website
Internet Ticketing:
Offers internet-based rail ticket booking via website and mobile app.
Accounts for 82.68% of total reserved tickets online in FY24.
Operates Next Generation e-ticketing system with high-capacity server.
Tourism:
Offers various travel packages for religious pilgrimages, wildlife adventures, and leisure getaways.
Provides domestic and international air travel packages.
Specializes in tours for NRIs, Ram Katha Yatra, Kashi Tamil, Saurashtra Tamil Sangam.
Rail Neer: IRCTC's Packaged Drinking Water
Distributed across 410 Indian railway stations.
Operates 19 manufacturing plants.
IRCTC STOCK PRICE ANALYSIS
In May 2024, IRCTC reached an all-time peak of 1140. Subsequently, the stock experienced a nearly 42.51% decline, and it is currently trading at 780. Following the company's robust Q4 results, there is still potential for it to accelerate its growth to 1,***** current support level of IRCTC is 800, and the market price is below this support. The stock is expected to experience an upward trend in the near future, at least until it reaches the level of 850.#FundamentalViews#TechnicalViews#StockInNews#EquityResearch
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