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HomeBusinessIRCTC shares fell by 1400 points in one stroke after reaching record...

IRCTC shares fell by 1400 points in one stroke after reaching record high, investors lost 22,356 crores

IRCTC

The stock of Indian Railway Catering and Tourism Corporation (IRCTC) saw huge volatility on Tuesday. In today’s trading, the share of IRCTC on the BSE rose 19 percent to a new 52-week high of Rs 6,393 on the BSE. At the same time, during trading, the stock fell 1400 points or 15 percent to a low of Rs 4995.75. However, at the end of trading, IRCTC’s stock closed at Rs 5363, down 8.75 per cent or 514 points. Investors suffered huge losses due to the fall in the stock.

The market cap of IRCTC has crossed the Rs 1 lakh crore mark today. With the stock reaching a record high, the market cap rose to Rs 1,02,288 crore. It became the ninth Public Sector Undertakings (PSU) whose market cap has crossed 1 lakh crore.

Why did the stock fall suddenly?

Actually, RITES has given a report to appoint a regulator in the Railways. After the report of RITES, now the cabinet note will be made. Regulator has been recommended for private trains. Passenger trains will also come under the purview of the regulator. After this news, the share of IRCTC fell 1400 points to a low of 4995.75.

Investors got a shock of 22000 crores

Investors have suffered a major setback due to the sudden fall in the stock. The wealth of investors decreased by Rs 22,356 crore during the business.

Has given 1800 percent return till now

The share of IRCTC was listed on the stock market on 14 October 2019. Its issue price at that time was Rs 320. The stock has jumped almost 18 times against the issue price. In this sense, in the last two years, this stock has given a return of about 1800 percent.

The names of State Bank of India, Coal India, NMDC, Indian Oil, Power Grid, SBI Life Insurance, Bharat Petroleum, SBI Cards are already registered in the list of government companies with 1 lakh crore market cap.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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