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Impressive Afternoon Rally
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) witnessed a remarkable surge, climbing 13.82% to reach Rs 888.90, compared to the previous close of Rs 780.95 on BSE. The railway stock opened higher at Rs 782.05. In the afternoon session, the total turnover amounted to Rs 271.51 crore, with 32.29 lakh shares changing hands.
Market Performance and Cap
IRCTC secured the second-highest turnover on BSE, with Sapphire Foods stock leading at Rs 534.59 crore. The market capitalization of IRCTC rose to Rs 70,548 crore. Notably, the stock had touched a 52-week low of Rs 557.15 on March 29, 2023.
Technical Analysis and Relative Strength
In terms of technical indicators, the relative strength index (RSI) for IRCTC stands at 71.4, indicating it is in the overbought territory. The stock boasts a one-year beta of 0.2, suggesting low volatility. Additionally, IRCTC is trading above its 5-day, 10-day, 100-day, 150-day, and 200-day moving averages.
Financial Highlights
IRCTC reported a robust 30.4% YoY increase in net profit, reaching Rs 294.7 crore, compared to Rs 226 crore in the corresponding period last year. Revenue from operations also demonstrated strong growth, rising by 23.5% to Rs 995.3 crore, up from Rs 805.8 crore in the year-ago period.
Operational Performance
On the operational front, the company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the Septemb
er quarter reached Rs 366.5 crore, marking a significant growth of 20.2% compared to Rs 304.9 crore in the same period last year.
Disclaimer : This article is only for information purpose. It should not be considered for any investment decisions. The views are personal.