Shares of Indian Railway Catering and Tourism Corporation (IRCTC) zoomed 14% in the afternoon session to hit a fresh 52-week high today.
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IRCTC shares climbed 13.82% to Rs 888.90 against the previous close of Rs 780.95 on BSE. The railway stock opened higher at Rs 782.05. Total 32.29 lakh shares of the firm changed hands amounting to a high turnover of Rs 271.51 crore on BSE. IRCTC logged the second highest turnover as Sapphire Foods stock saw the highest turnover of Rs 534.59 crore. Market cap of IRCTC rose to Rs 70,548 crore.
The IRCTC stock fell to a 52-week low of Rs 557.15 on March 29, 2023.
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In terms of technicals, the relative strength index (RSI) of IRCTC stands at 71.4, signaling it’s trading in the overbought territory. IRCTC stock has a one-year beta of 0.2. This signals the stock has low volatility. The large cap stock is trading higher than the 5 day, 10 day, 100 day, 150 day and 200 day moving averages.
IRCTC reported a 30.4% rise in net profit at Rs 294.7 crore compared to Rs 226 crore in the corresponding period last year. Revenue from operations climbed 23.5 per cent to Rs 995.3 crore compared to Rs 805.8 crore in the year-ago period.
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On the operating front, the company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) in the September quarter came in at Rs 366.5 crore, clocking a growth of 20.2 per cent, compared to Rs 304.9 crore in the same period last year.
