Stock Tips: Due to the strength in stocks, the market cap of IRCTC has crossed Rs 1 lakh crore (Rs one trillion) level today. It has become the 10th Public Sector Company (PSU) of the country to do so. Today its shares have gained about 8 percent. At the same time, in 2021 this year, it has given a return of 337 percent to the investors. Before IRCTC, SBI, ONGC, NTPC, PowerGrid, Indian Oil, SBI Life Insurance, Coal India, SBI Cards and Bharat Petroleum have crossed the market cap level of Rs 1 lakh crore. Reliance is the company with the highest market cap in the country.
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IRCTC has monopoly in two out of four businesses
According to Ashish Chaturmohta, Research Director, Sanctum Wealth, IRCTC’s business position is different as compared to other PSU companies. Its business is in four segments, out of which it has complete monopoly in two segments. IRCTC’s internet ticketing and Rail Neer have a complete monopoly. Chaturmohata is bullish on long-term investment in IRCTC but believes investors can take advantage of the rally in stocks by booking partial profit.
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More than 1800% profit to IPO investors in just two years
IRCTC shares were listed two years ago on 14 October 2019. Its shares were listed on the BSE at a premium of 101.25 per cent i.e. Rs 644 against the IPO price of Rs 320. In just two years, its prices have reached close to Rs 6300 today, that is, the capital of investors has increased by more than 1800 percent compared to the IPO price. The stock has gained almost 70 per cent in one month.
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