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MSTC, Mishra Dhatu Nigam, IRCTC hit new highs, surge over 20% in a week

MIDHANI has zoomed 51 per cent in the past six trading days after reporting a more than three-fold jump in its December quarter net profit

SI Reporter  |  Mumbai 

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Shares of three state-owned companies, Indian Railway Catering and Tourism Corporation (IRCTC), MSTC, and (MIDHANI), hit their respective fresh highs on the bourses on Thursday. These stocks have rallied in the range of 20 per cent to 27 per cent during this week, as compared to 0.39 per cent decline in the benchmark S&P BSE Sensex during the period.

soared 19 per cent to Rs 205 on the BSE on Thursday. The stock has rallied 47 per cent in the past six trading days on the BSE on the back of heavy volumes. The stock of the state-owned e-commerce firm was trading at its highest level since listing on March 29, 2019. It surpassed its previous high of Rs 184, touched on November 13, 2019.

For the October-December quarter (Q3FY20), reported 23 per cent quarter-on-quarter (QoQ) growth in consolidated profit before tax (PBT) at Rs 55.85 crore. Its e-commerce revenue grew 42 per cent QoQ at Rs 59.10 crore.

is developing a portal for department of investment and public asset management (DIPAM) for strategic disinvestment of public sector undertakings (PSU’s). The portal for sale of all organic produce in the country with mapping of data has been commissioned for Ministry of Agriculture. Logistic partners are being empanelled, after which commercial transaction B2B and B2C will happen.

Shares of IRCTC, the online ticketing, tourism and the catering arm of railways, surged 6 per cent and hit a new high of Rs 1,940 in intra-day trade today. In the past three trading days, the stock has rallied 28 per cent ahead of the commercial run of Kashi Mahakal Express, the third train operated by it, from today (February 20). The stock was trading at its highest level since listing on October 14, 2019.

is the only entity authorized by the Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India. It has a dominant position in the online rail bookings/packaged drinking water with around 73 per cent/45 per cent market share, respectively.

Shares of Limited (MIDHANI), too, surged 14 per cent to Rs 249 on Thursday. The stock has zoomed 51 per cent in the past six trading days after reporting a more than three-fold jump in its December quarter net profit at Rs 60.50 crore. It had posted a profit of Rs 16.90 crore in the year-ago quarter.

The stabilisation of 1500T Forge press and other recent capital investments coupled with a healthy order booking, particularly from space sector, has enabled the mini-ratna defence public sector undertaking MIDHANI to achieve healthy turnover during the quarter.

COMPANY LATEST 1-WK BEFORE GAIN(%)
MISHRA DHATU NIG 229.20 181.65 26.2
I R C T C 1920.90 1579.95 21.6
MSTC 197.10 163.85 20.3

First Published: Thu, February 20 2020. 14:06 IST
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