IRCTC rises over 3% in two days

Indian Railway Catering and Tourism Corporation (IRCTC) rose 2.87% to Rs 1479.20, extending its winning run to second trading session.

The stock rose 3.67% in two trading days from its previous closing low of Rs 1426.90 posted on 25 January 2021. IRCTC has surged about 91% from its 52-week low of Rs 774.85 hit on 26 March 2020. It hit a 52-week high of on Rs 1,995 on 25 February 2020.

IRCTC on Wednesday announced that it will restart operations for both pairs of IRCTC Tejas Trains (82501/82502 and 82901/82902) from 14th February 2021. The above mentioned trains are being fired for booking on IRCTC's website and IRCTC Rail Connect Mobile App. These trains will be running 4 days a week (Friday, Saturday, Sunday, Monday) and will be booked on full capacity of the coaches.

IRCTC, a Mini Ratna public sector enterprise under the administrative control of Ministry of Railways, is the sole entity authorized by Indian Railways (IR) to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India. As of 30 September 2020, the Government of India held 87.40% stake in the company.

The company posted a 67.3% decline in net profit to Rs 32.63 crore in Q2 September 2020 from Rs 99.82 crore in Q2 September 2019. Net sales tumbled 82.7% to Rs 88.56 crore in Q2 September 2020 from Rs 513.37 crore in Q2 September 2019.

The company will announce Q3 results on Thursday, 28 January 2021.

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