IRCTC ends up by 10.94 per cent, creates a new 52-week high

Healthy train bookings in the quarter fueled the bullish rally

Indian Railway Catering and Tourism Corporation or simply IRCTC today opened with a gap up of 76 points to cross the 5,000 mark and had hit a fresh 52-week high of Rs 5,593.85 on BSE. The stock has generated a huge return of 46% in just a month (month-to-date). The healthy train ticket booking in the September quarter has lifted the spirits of many shareholders and traders. The bookings have almost doubled in the quarter. 

IRCTC has a dominant market share when it comes to online ticket booking for railways. The train bookings are expected to strengthen the Q2 results of IRCTC. The positive future expectations have turned this stock into a lucrative investment for the short term. The diversification of the company into the hospitality business has also been backing the bullish trend. The fact that IRCTC would not be completely reliable on one segment is welcomed by the investors. 

Whether you are a trader or a long-term investor, let us know your views on this buzzing stock.