High ROE & high ROCE multibagger stock: This railway catering and tourism company partners with Zomato’s competitor – know more here
The stock has an ROE of 45.5 per cent and a ROCE of 59.2 per cent and generated multibagger returns of over 200 per cent in just 3 years.
Indian Railway Catering and Tourism Corporation (IRCTC) informed that the company has tied up with Bundl Technologies Pvt Ltd (Swiggy Foods) for the supply & delivery of pre-ordered meals through IRCTC e-catering portal as a PoC (Proof of Concept) in the first phase at four railway stations i.e., Bengaluru, Bhubaneswar, Vijayawada and Visakhapatnam. The e-catering service through Bundl Technologies Pvt Ltd (Swiggy Foods) may be available soon.
In October 2023, IRCTC has teamed up with Zomato to provide a wider variety of food choices through its E-Catering service. As a pilot program, passengers at five major stations - New Delhi, Prayagraj, Kanpur, Lucknow, and Varanasi - can now pre-order meals through the IRCTC portal and have them delivered by Zomato, offering greater convenience and culinary options.
The Indian Railway Catering & Tourism Corporation (IRCTC), established in 1999, is a one-stop shop for travel and tourism in India. They handle online railway ticketing, catering services (including pantry cars, food plazas, and e-catering), packaged drinking water, various hospitality services (like lounges, retiring rooms, and hotels), and domestic and international tourism packages (including luxury trains, air ticketing, and city tours). With 8+ crore users, 15 Rail Neer plants, and a vast network of services, IRCTC aims to provide a comprehensive and convenient travel experience for everyone.
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Talking about the financials, IRCTC has a market cap of Rs77,172 crore. The company reported positive numbers in its Quarterly Results and annual results. The net sales increased by 22 per cent to Rs 1,118 crore and net profit increased by 17 per cent to Rs 300 crore in Q3FY24 compared to Q3FY23.
On Friday, shares of IRCTC surged 3.07 per cent to Rs 964.65 per share with an intraday high of Rs 970 and an intraday low of Rs 946. The shares of the company saw a spurt in volume by more than 2.37 times on BSE. The stock’s 52-week high is Rs 1,049.75 and its 52-week low is Rs 557.15.
The stock has an ROE of 45.5 per cent and a ROCE of 59.2 per cent and generated multibagger returns of over 200 per cent in just 3 years. Investors should keep an eye on this Mini-Ratna company.
Disclaimer: The article is for informational purposes only and not investment advice.
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