Shares of irctc Ltd on thursday hit a 52-week high of ₹1976 on the BSE, delivering a whopping 500% return to its IPO investors after listing on the bourses. The stock ended at ₹1927.75 apiece, up 5.30% from its previous close on BSE, while the benchmark Sensex lost 0.37% to close at 41,170.12 points. Investors have been bullish ever since irctc Ltd was listed on the stock exchanges on 14 october 2019 at ₹644, a premium of 101.25% to the IPO price of ₹320.
On a standalone basis, IRCTC's net profit jumped 179.6% to ₹205.80 crore in third quarter against from ₹73.60 crore in a year-ago period. Net sales rose 64.6% to ₹715.98 crore in October-December period from ₹435.01 in the same period a year ago.IRCTC today commenced commercial operations of Kashi Mahakal Express. The train will run between varanasi and indore and connect three holy places - Jyotirlinga - Omkareshwar (near indore in Madhya Pradesh), Mahakaleshwar (Ujjain in Madhya Pradesh) and Kashi Vishwanath (Varanasi in Uttar Pradesh).
“Given the reintroduction of service charge (Rs15/Rs30 per ticket for non-AC/AC respectively) from 01 Sep 2019, capacity expansion in rail Neer (aim is to increase the number of plants to 20 by FY21E) and the average increase in mobile/static catering tariff’s by 70%/61% respectively we expect sales/PAT to grow at a CAGR of 24.5%/54.7% over FY19-22E. Strong balance sheet with a cash balance of Rs11600 crore as of december, healthy return ratios & dividend pay-out gives us additional comfort," said a recent research report by Prabhudas Lilladhar.