How Did IRCTC Plunge Again Today? M-Cap Slumps 30% After Crossing Rs 1 Trillion

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How Did IRCTC Plunge Again Today? M-Cap Slumps 30% After Crossing Rs 1 Trillion
Credit: © Reuters.

By Malvika Gurung

Investing.com -- Amid heavy volumes and profit booking, the share price of the e-ticket booking platform for Indian Railways, IRCTC (NS: INIR ) dropped 18.71% to Rs 4434.35 apiece as the market closed for the Wednesday session, which is a 30.6% drop from its all-time high of Rs 6,393 attained on Tuesday.

IRCTC’s stock tanked by over 30% during intra-day trade on Tuesday, as reports of the Government appointing a regulator for the Railways sector surfaced.

IRCTC enjoys monopoly as Indian Railways does not authorize any other entity to provide online ticketing services, catering or packaged drinking water to Railways’ passengers.

However, investors have lost about wealth worth Rs 32,352 crore over the past two days, as the stock price of IRCTC plunged.

The market capitalization too reduced to around Rs 69,936 crore during trade hours today, after crossing the Rs 1 trillion mark during trade hours yesterday. 

The Indian government-owned subsidiary joined the elite Rs 1 trillion market capitalization club as its share prices skyrocketed by record numbers of over 300% for the ongoing year.

 

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  • Mrityunjay Srivastava @Mrityunjay Srivastava
    I have seen news that Government is planning to sales some stake in IRCTC. Is it true?
    Like 0
  • Krishna Sharma @Krishna Sharma
    it will touch 3500 to 3700. in few days.
    Like 0
  • Team Leader APIIATP @Team Leader APIIATP
    No analyss. Mediocare wirte up
    Like 4
  • Rs Guru @Rs Guru
    What are you trying to convey
    Like 7
  • Sanjay Mahajan @Sanjay Mahajan
    The headline and contents have no connection .. Only fact of slump but no analysis on why the news caused slump
    Like 19
  • Avinash Kulkarni @Avinash Kulkarni
    IRCTC P/E Ratio is 495+ where as industry P/E is negative 21.5.The valuation is unsupportable. What does split going to achieve except attract retail customer's into a trap?... Price is justifiable 3000 to 3500 max.
    Like 13
    • Sudipto Roy @Sudipto Roy
      Modi hai to mumkin hai case, I guess
      Like 1
    • Saynab Kumar @Saynab Kumar
      true said Kulkarni sir
      Like 0
    • Ak giri @Ak giri
      jab profit Kamaya to bhi Modi Yaad Kar lete
      Like 3
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  • Kuldeep Saxena @Kuldeep Saxena
    wait for bullish candle on support to enter
    Like 2
  • Pardeep chauhan @Pardeep chauhan
    irctc having potential to touch 6000 again before stock split.. it is good time to enter who has missed the Raily..
    Like 5
  • Pardeep chauhan @Pardeep chauhan
    irctc having potential to touch 6000 again before stock split.. it is good time to enter who has missed the Raily..
    Like 4
  • Pardeep chauhan @Pardeep chauhan
    irctc having potential to touch 6000 again before stock split.. it is good time to enter who has missed the Raily..
    Like 1
  • Pardeep chauhan @Pardeep chauhan
    irctc having potential to touch 6000 again before stock split.. it is good time to enter who has missed the Raily..
    Like 1
  • Hemaljeet Tamang @Hemaljeet Tamang
    mkt info this stock will split in 1:5 ratio by the end of Oct.  Stock will take off again shortly.
    Like 2
    • balaji ravi @balaji ravi
      if all the price increase before split then the momentum speed will be no same after split
      Like 1
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  • Virendra Verma @Virendra Verma
    Its nothing to do with profit booking. Shorts got trapped and had to book losses and once shorts got covered fresh buying did not come.
    Like 4
    • Ajit Pardeshi @Ajit Pardeshi
      huh??
      Like 0
    • Ajit Pardeshi @Ajit Pardeshi
      what are you smoking?
      Like 3
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  • Gangadhar B @Gangadhar B
    stable Between 4000 and 5000
    Like 0
    • balaji ravi @balaji ravi
      proof kidhar hain
      Like 0
    • RAJIV SINGH @RAJIV SINGH
      It will touch level of 3000-2800 in next few days bear market
      Like 0
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  • share ghy @share ghy
    Its going to be 3000 in next 2-3 sessions..inside story
    Like 5
    • Rajan Tamhankar @Rajan Tamhankar
      29th isnt far off
      Like 0
    • Sumit Arora @Sumit Arora
      her 200 Rs ki fall p buy kro.split hone k baadphr bhagna h
      Like 0
    • Aditya Parde @Aditya Parde
      next support 3500
      Like 0
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  • Yogesh Asariya @Yogesh Asariya
    Its just a hype, it will touch 7000 in next 10-15 sessions.
    Like 4
    • raj manjhi @raj manjhi
      I heard it it's going to split on 29th
      Like 0
    • Sandip Ajgaonkar @Sandip Ajgaonkar
      There should be circuit breaker while downfall.
      Like 0
    • RAJIV SINGH @RAJIV SINGH
      Today break second ckt
      Like 0
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  • Animesh Mandal @Animesh Mandal
    Why did this article starts with How did!
    Like 13

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