IRCTC Share Price Today: The Indian Railway Catering and Tourism Corporation (IRCTC) share price today hit its life-time high of Rs 2,015.80 at around 11:40 AM. The Indian Railways PSU stock logged around 7 per cent appreciation. Importantly, IRCTC share price broke the psychological Rs 2,000 mark for the first time today.
Why IRCTC share price jumped today
According to stock market experts, this rally in the IRCTC stock today is due to the FIIs and other institutions investments going up in the company during October to December 2020 quarter. Apart from this, Indian Railways coming back to its 100 per cent operational strength in next few months is also helping this IRCTC stock price rally, said experts.
Speaking on the IRCTC share price rally in the last one and a half months, Saurabh Jain, AVP — Research at S&P said, “IRCTC share price has been skyrocketing for the last three months. The major reason for this rise in IRCTC shares is its OFS (Offer For Sale) that came in December 2020. After the IRCTC OFS, FIIs shareholding in the company rose to 8.75 per cent from 1.13 while institutions shareholding rose to 7.67 per cent from 1.66 per cent.”
Source : zeebiz