Why Did IRCTC Plummet Again on Monday?

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Why Did IRCTC Plummet Again on Monday?

By Malvika Gurung

Investing.com -- Shares of the e-ticket booking platform for Indian Railways, IRCTC (NS: INIR ) continued to fall with significant decline on Monday, as the stock tumbled below the 4,000-mark about 14% during early-trading sessions.

The stock was trading at Rs 4,088.6, down by 11.62% or 547.35 points at 2:30 pm on Monday. Its shares fell by about 14.32% to an intraday low of Rs 3,960.05. 

As a result, the e-ticketing major’s stock has plunged by about 38% from its all-time high of Rs 6,393 achieved on October 19.

The reason for today’s significant decline was that the National Stock Exchange had placed the PSU shares under the F&O (Futures and Options) ban list on October 20, as it had crossed 95% of the market-wide position limit. 

Despite exiting the ban list on Monday, the stock continued to sink, as analysts believe that ‘short traders are trying to drag it more so that weak longs get out of the game’.

Any stock that crosses 95% of the market-wide position limit is mandatorily put under the NSE F&O ban list until the position falls below 80%.

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.

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  • Paras Nath @Paras Nath
    All PSU shares perform like shitt except PSU IRCTC... Talking about monopoly, so many PSU operate as virtual monopolies in their domain but none has so much punters attention as this sarkari stock with price to sales of 70 plus.... unimaginable even in case of Tata ELXSI or even IEX
    Like 0
  • Rajesh Saini @Rajesh Saini
    Yes, with stop loss at 3900 for 15 Percent gain in next 3 days.
    Like 0
  • Ajit Kumar @Ajit Kumar
    must buy
    Like 0
  • Bhanu Pratap Singh @Bhanu Pratap Singh
    irctc buy next week new hi..
    Like 1
  • OM SHIMPI @OM SHIMPI
    This time is buy irctc buy 🤑🤑🤑
    Like 1
  • OM SHIMPI @OM SHIMPI
    This time is buy irctc buy 🤑🤑🤑
    Like 1
  • Ime my @Ime my
    Girtaa hai to achha hai..!!!👌
    Like 1
  • sunita kansal @sunita kansal
    Two stocks are multibagger if kept for 1-2years.One - UCO Bank 14.5Two - Yes Bank 13.5I my recommendations are followed closely, only then, you will see, what they are.  So watch it.  TY
    Like 0
    • DEEPAK KUMAR @DEEPAK KUMAR
      wrong yes bank
      Like 0
    • DEEPAK KUMAR @DEEPAK KUMAR
      wrong yes bank
      Like 0
    • sunita kansal @sunita kansal
      @DEEPAK KUMAR thanks, its ok sir, let both of us watch, barbar barber how much hairs on my head will be visible to everyone.
      Like 4
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  • A K Gamer @A K Gamer
    best buy price is 23-2800
    Like 1
  • sunita kansal @sunita kansal
    IRCTC may be best conversion into IRCTC-RC=  ITC 233.
    Like 3
    • SAKTHI MOHAN @SAKTHI MOHAN
      lol
      Like 0
    • sunita kansal @sunita kansal
      @SAKTHI MOHAN isnt it.
      Like 0
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  • Anandappa Idegottalu @Anandappa Idegottalu
    is IRCTC will go up side or downside?any analysis..
    Like 0
    • sunita kansal @sunita kansal
      @Anandappa Idegottalu buy if comes 3200
      Like 1
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  • Rohit Gavali @Rohit Gavali
    what shud be the next target of IRCTC
    Like 0
    • Amit kumar @Amit kumar
      resistance 4200 support 3800
      Like 0
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  • Rohit Gavali @Rohit Gavali
    what shud be the next target of IRCTC
    Like 0
  • Rohit Gavali @Rohit Gavali
    what shud be the next target of IRCTC
    Like 0
    • sunita kansal @sunita kansal
      Like 0
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  • Minhaj Mohiuddin @Minhaj Mohiuddin
    The stock will run faster than Usain Bolt shortly, best level to accumulate.
    Like 3
    • sunita kansal @sunita kansal
      @Minhaj Mohiuddin time for highflier stocks is capped now. New stars will emerge in 2022.
      Like 0
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  • GABA JI @GABA JI
    but it is falling so much more than 38% is very little time
    Like 1

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