IRCTC sets 29 Oct as record date for stock split

Indian Railway Catering and Tourism Corporation (IRCTC) fixed 29 October 2021 as the record date for the proposed 5-for-1 stock split.

The company's board in August 2021 recommended the proposal for sub-division of one equity share of face value of Rs 10 each into five equity shares of face value of Rs 2 each (5-for-1).

Shares of IRCTC were up 0.77% at Rs 3797.65. The stock hit a high of Rs 3835.70 and a low of Rs 3785.55 in early trade.

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 June 2021, the Government of India held 67.4% stake in the company.

IRCTC posted a net profit of Rs 82.52 crore in Q1 FY22 compared with net loss of Rs 24.6 crore in Q1 FY21. Revenue from operation jumped 85.3% year-on-year to Rs 243.36 in Q1 FY22 over Q1 FY21.

Shares of IRCTC were listed on the bourses on 14 October 2019. The stock debuted at Rs 644, a premium of 101.25% to the initial public offer (IPO) price of Rs 320. The stock has soared 1086.77% from its IPO price.

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