IRCTC stock plunged 2% on Tuesday. The company’s shares have gained nearly 3% in the last one month while they have fallen 9% in the last one year.
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IRCTC share price tanked 2% to Rs 632.75 today on profit booking after the state-owned company’s net profit rose 30.4% to Rs 278.80 crore in Q4FY23 from Rs Rs 213.78 crore in the same period the previous year. The company’s board recommended a final dividend of Rs 2 per equity share of face value of Rs 2 each for the financial year ended March 2023, at 100% of the paid-up share capital of Rs 160 crore. IRCTC stock has gained nearly 3% in the last one month while falling 9% in the last one year.
“This final dividend is in addition to the interim dividend of Rs 3.50 per share declared by the Board of Directors in the month of February 2023 and already paid to the shareholders,” IRCTC said in a regulatory filing.
IRCTC Stock Call: ‘Buy’; Target: Rs 727; Stop-loss: Rs 605 – Prabhudas Lilladher ahead of the result
“The (IRCTC) stock has bottomed out near Rs 560 zone and given a decent pullback towards Rs 630 levels where the stock has been in consolidation and currently has given a strong positive candle to indicate a breakout above the rectangular box anticipating for further upside move with improvement in the bias. With the RSI showing strength has again regained after a short correction to signal a buy and has much upside potential to carry on the momentum still further ahead. We suggest buying and accumulating the stock for an upside target of Rs 727 while keeping the stop loss at Rs 605,” said Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher.
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IRCTC stock on Tuesday, touched an intraday high of Rs 645 and a low of Rs 625. The shares touched a 52-week high of Rs 775 on 7 November 2022 and a 52-week low of Rs 557 on 6 July 2022. At the current price of Rs 634.25, the company’s market capitalisation stands at Rs 50,740 crore. Meanwhile, the NSE Nifty 50 rose 55.30 points or 0.30% to 18,653.95 and BSE Sensex jumped 147.99 points or 0.24% to 62,994.37 today.
