Know how IRCTC’s market cap fell to Rs 30,000 crore in two days

IRCTC Share: After making a record high of 52 weeks on Tuesday, the process of profit-booking in the stock of IRCTC (Indiam Railway Catering and Tourism Corporation) continued on Wednesday as well. In Wednesday’s trading session, IRCTC’s stock fell by up to 19 percent and in the day’s trading it went down to a low of Rs 4377. At the end of the day’s trading, IRCTC closed at Rs 4434.35, down 18.71 per cent.

On Tuesday, IRCTC touched its highest level of Rs 6396 since its listing in the stock market. Then the market cap of IRCTC had crossed one lakh crore rupees. But profit-booking started in the stock by investors from higher levels. And in two days the share of IRCTC has come down by 32 percent. At the same time, the market cap has come down from Rs 1 lakh crore to Rs 70,000 crore.

It is clear from the fall in the share of IRCTC that investors at the upper level have started booking profits in the stock. On the other hand, investors who want to buy this stock, experts are advising them to stay away from it for the time being. Experts feel that this stock may fall further. Let us tell you that 52 weeks ago the share of IRCTC was trading at Rs 1290, and has reached Rs 6396 in just one year. That is, IRCTC has given returns of up to 500 percent to investors in a year.

On October 28, the share of IRCTC will be split. Investors will get 5 shares for one share. Because its face value will be reduced from Rs 10 to Rs 2.

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