Why Did IRCTC Shares Jump 10% in a Day?

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Why Did IRCTC Shares Jump 10% in a Day?
Credit: © Reuters.

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.

 

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  • atman dubal @atman dubal
    today stock will open in lower circuit.
    Like 2
  • Ajit Pardeshi @Ajit Pardeshi
    stupid people are buying it thinking it is cheaper now
    Like 6
    • Darpan Sethi @Darpan Sethi
      @Ajit Pardeshi let them buy. what's your problem dude?
      Like 6
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  • EAP Prediction @EAP Prediction
    tomorrow again gap up 10% possible
    Like 0
  • Rohit Gavali @Rohit Gavali
    I guess very soon it will achieve tgt of 1500
    Like 8
  • Rs Guru @Rs Guru
    No answer for the question Why…..
    Like 10
  • Raj Bhilarkar @Raj Bhilarkar
    The shares got split for 1/5
    Like 2
  • Rashid jamal @Rashid jamal
    but not discussed by you how to up share price of irctc by 10% ...
    Like 14
    • Ajit Pardeshi @Ajit Pardeshi
      stupid small investors are buying. they don't understand they are now buying FV of 2. they just think it is cheaper. 🤦‍♂️
      Like 1
    • ROHIT JETHMALANI @ROHIT JETHMALANI
      Who will get subdivision of equity shares?
      Like 0
    • Darpan Sethi @Darpan Sethi
      @Ajit Pardeshi ya only you are smart in this world right?
      Like 2
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