High ROE & high ROCE stock: This travel services company signs an MoU with Delhi Metro Rail Corporation!
The stock has an ROE of 45.5 per cent and a ROCE of 59.2 per cent and generated multibagger returns of 140 per cent in just 3 years.
Indian Railway Catering and Tourism Corporation (IRCTC) has signed an MoU with Delhi Metro Rail Corporation (DMRC) on August 14, 2023, for providing QR code-based DMRC tickets through the IRCTC Platform. This innovative initiative is set to benefit passengers of both IRCTC and DMRC by streamlining the travel experience and reducing the time spent in queues at stations.
Indian Railway Catering and Tourism Corporation (IRCTC) is a Mini Ratna (Category-I) central public sector enterprise under the Ministry of Railways, Government of India. The President of India owns the maximum number of stakes in this company (62.40 per cent) as of March 2023.
Talking about the financials, IRCTC has a market cap of over Rs 50,000 crore. The company reported positive numbers in its Quarterly Results and annual results. The net sales increased by 17.50 per cent to Rs 1,002 crore and net profit decreased by 7 per cent to Rs 232 crore in Q1FY24 compared to Q1FY23.
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On Friday, shares of IRCTC plunged 1.92 per cent to Rs 649.95 per share with an intraday high of Rs 662.65 and an intraday low of Rs 638.70. The shares of the company saw a spurt in volume by more than 2.15 times on BSE. The stock’s 52-week high is Rs 775 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 140 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.