Sunday, October 2, 2022


IRCTC share fell down by 11.48% in the last one week, since December 9 closing. The stock was down 2.75% on Tuesday to ₹1,439. Analysts at Angel broking assume IRCTC share price to more come down on December 16. “We expect IRCTC stock to come down after the allotment of shares of OFS i.e. 17th December 2020. Pre-OFS Promoter shareholding is 87.5% and post-OFS it will come down to 67.5%, by this very important supply will come on the day of allotting of OFS share to investors,” says Yash Gupta Equity Research Associate, Angel Broking.

The two-day IRCTC OFS had begun on Thursday, with the first day on December 10 booked for non-retail investors and the other day for retail investors.

ALSO CHECK: Get an amazing discount with Nurserylive Coupons and The Man Company Coupons

On the First day of IRCTC OFS, it got oversubscribed by 1.97x times from the non-retail category. Now the organization has fixed the cutoff rate of 1377.56 after the first day of bidding. Total OFS is 20% of paid-up equity share capital.

Angel Broking assumes limited listing increases and gives a ‘Neutral’ rating to the IRCTC OFS issue. The brokerage continues cautious on the near-term business prospects of the company.

But given the monopolistic nature of the business and strong increase expected post FY2021, the brokerage remains positive on the long-term prospects of the company.

The IRCTC stock was registered on the stock exchanges in October 2019. The shares had hit a 52-week high of ₹1,996 in February this year before falling to ₹774.86 in March between the pandemic-induced selloff in equity markets.



Please enter your comment!
Please enter your name here


Most Popular



Actress Neha Malik wreaked havoc in just a top, striking a killer pose while sitting near a swimming pool.

Neha Malik Photo: Bhojpuri actress Neha Malik is constantly criticized for her appearance. The actress has made a name for herself in the Bhojpuri...

Sushant Singh Rajput’s ex-girlfriend Rhea Chakraborty wore a revealing braless beautiful dress check her photos

Rhea Chakraborty looked stunning on this special occasion. People were attracted to the actress's perfect and curvy figure because she was dressed in such a...

Nora Fatehi Stunning Look: Nora Fatehi dropped her beauty in a yellow dress, sometimes with wavy hair sometimes looked amazing!

Nora Fatehi was spotted in a splendid style once more, and I'm not sure what magic happened to Nora that kept the viewers staring...

Photos: Now the railway stations of India will look more luxurious than the airport, the picture will be like this in the coming few...

Indian Railways' proposal for redevelopment of railway stations in New Delhi, Ahmedabad, and Mumbai has been approved. Around Rs, 10,000 crores is being invested...

Country’s most affordable electric vehicle debuts: With a starting price of Rs. 8.49 lakh and a range of 315 kilometres, Tata introduces the Tiago...

Today, Tata Motors unveiled the electric version of the Tata Tiago, a well-liked hatchback. It has an initial cost of Rs. 8.49 lakh. This...

Most Popular


* indicates required