Why Did IRCTC Shares Jump 10% in a Day?

Published 28-10-2021, 01:33 pm
© Reuters.
INNL
-
RAGU
-
RBDE
-
INIR
-

By Malvika Gurung

Investing.com -- Shares of the e-ticket booking platform for Indian Railways, IRCTC (NS:INIR) rallied over 13% in early-trade hours on Thursday, as the company’s stock split in the ratio 1:5 came into effect.

The ticketing major will finalise/ascertain ‘name of shareholders entitled to sub-division of equity shares of Rs 10 each into five equity shares of Rs 2 each on October 29, as per IRCTC’s board approval on August 12.

The stock was last trading 10% up at Rs 910 on Thursday.

In order to enhance the stock’s liquidity in the capital market and make it more affordable for small investors, IRCTC had announced splitting its stock in the ratio 1:5, meaning one share valued at Rs 10 would be split into 5 equity shares (face) valued for Rs 2 apiece.

The stock split will increase the number of shares in the market, while the total market capitalization of the stock would remain unchanged. 

Furthermore, stocks of R & B Denims Ltd (BO:RBDE), Indo National Ltd (NS:INNL), and Raghuvir Synthetics Ltd (BO:RAGU) turned their ex-stock split in the ratios of 1:5, 1:5 and 10:1, respectively.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.