Leading Miniratna railway public sector undertaking (PSU), Indian Railway Catering and Tourism Corporation shares today zoomed by 1.58% on Bombay Stock Exchange (BSE) to settle at Rs 762.20 apiece. The PSU informed today about its upcoming meeting of Board of Directors scheduled to be held on February 11, 2024 to consider financial results and interim dividend.
IRCTC offers a return of equity (ROE) of 34.05%, according to BSE. The PSU has a market capitalisation of Rs 60,976.00 crore. Check details below:
IRCTC To Consider Results, Interim Dividend
According to the BSE filing of the state-owned firm, “a meeting of the Board of Directors of the Company is scheduled to be held on Tuesday, February 11, 2025, inter-alia, to:
- consider and approve the un-audited financial results (Standalone and Consolidated) of the Company for the quarter and nine months ended on 31st December, 2024, after the same are reviewed by Audit Committee;
- consider declaration of 2nd Interim Dividend for FY 2024-25, if any. Further, in terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the “Record Date” will be Thursday, February 20, 2025, for determining eligibility of shareholders for payment of the said Interim Dividend, if declared by the Board of Directors.”
IRCTC Share Performance & Return
The 52-week high price of IRCTC share on BSE is Rs 1148.30 per share (as on 22/05/2024) and 52-week low price is Rs 736.25 per share (as on 28/01/2023), respectively. IRCTC shares surged marginally by 0.32% in last 2-weeks, slipped 22.35% in last 1-year, gained over 24% in last 2-years, and offered return of 240.69% in last 5-years.
IRCTC Stock Split History
IRCTC sub-divided face value of its shares once since October 28, 2021. It last split face value of its shares from Rs 10 to Rs 2 in 2021. IRCTC shares traded ex-split as on October 28, 2021.
IRCTC Dividend History
IRCTC recommended a total of 8 dividends since February 24, 2020. In last 1-year time, the state-owned firm recommended an equity dividend amounting to Rs 8.00 per share. At the current share price of Rs 762.20 apiece, IRCTC shares’ dividend yield is 1.05%.
IRCTC Shareholding
According to Trendlyne, “FII/FPI reduced holdings from 7.54% to 7.45% in December 2024 quarter. Number of FII/FPI investors jumped from 529 to 532 in December 2024 quarter. Mutual Funds reduced holdings from 3.56% to 2.99% in December 2024 quarter. Number of MF schemes came down from 29 to 27 in December 2024 qtr. Institutional Investors decreased holdings from 21.47% to 21.18% in December 2024 quarter.
Should You Buy IRCTC Shares?
Global brokerage Macquarie has recommended buy call to IRCTC shares with target price of Rs 900 per share. Macquarie said, railway modernisation and quicker launch of premium trains as the likely factor behind its upbeat stance on the stock.
The brokerage highlighted IRCTC’s monopoly in Indian Railways’ e-ticketing and catering services as a potential strength.
About IRCTC
Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) is a Schedule ‘A’ Mini-Ratna listed company under Ministry of Railways, Government of India and is the professional hospitality and travel arm of Indian Railways incorporate for upgradation of catering services over Indian Railways and promote rail-bound domestic and inbound tourism in the country. IRCTC was incorporated on 27th September, 1999 as an extended arm of the Indian Railways, according to its official website.
Disclaimer
The stock has been picked from the brokerage report of Macquarie. Moneydaily.in, the author, and the respective brokerage house will not be held accountable for any losses caused as a result of decisions based on the article. Moneydaily.in advises readers to do their own research or consult a SEBI registered investment advisor before making any investment decisions.
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