IRCTC m-cap tops Rs 1 trillion in intraday trade before settling 16% lower

Ends the day with a market cap of Rs 85,808 cr; stock has risen 3.3x this year; other firms in railways too come off from intraday highs amid buzz that govt is appointing a regulator for the sector

State-run Indian Railway Catering & Tourism Corp (IRCTC) on Tuesday joined the list, albeit for a while, of select PSUs to have a market capitalisation of more than Rs 1 trillion.

The company’s shares hit a record of Rs 6,393 in intra-day trade, valuing the company at Rs 1.02 trillion. The stock, however, settled 16 per cent lower from the day’s high at Rs 5,363 and finished at a market cap of Rs 85,808 crore. IRCTC, which has a monopoly in ticketing, catering and supply of packaged drinking water to Indian Railways, has seen its stock climb 3.5 times this year.

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