IRCTC Q1 net profit rises 33% to ₹307 cr
Revenue growth was driven by the catering, Rail Neer and internet ticketing segment.
Revenue growth was driven by the catering, Rail Neer and internet ticketing segment.
Railway stocks were mostly trading higher ahead of Budget, barring Texmaco Rail, while Railtel topped the chart with a 3% gain.
All railway-related stocks were trading higher today after Ashwini Vaishnaw retained the railway ministry in Modi 3.0, raising hopes for continuity in policies.
Post Q4 results, Prabhudas Lilladher has given a ‘HOLD’ rating on IRCTC, with a target price of ₹825
The sell-off in the railway stocks was triggered after FM Sitharaman earmarked a capex of ₹2.55 lakh crore for the Indian Railways, which is lower than industry expectations of ₹3 lakh crore.
On Ram Janmabhoomi temple, Jefferies says potential beneficiaries in the hotels and hospitality sector are Indian Hotels Company Ltd, ITC Hotels, EIH Ltd, and Oyo Rooms.
The largecap stock, which made its share market debut on April 11, 2019, has risen more than 1,500% in the last five years.
IRCTC is in discussions with various organisations and industrial houses to set up catering units.
Both PSUs levied fines worth ₹5,42,800 each by NSE, BSE for not having enough independent board members
The stock, which made its market debut in June last year, hit a fresh all-time high of ₹398.10 on September 5, after touching 52-week low of ₹66.90 on September 27, 2022.