IRCTC shares dive 5% as Q4 misses estimates
Post Q4 results, Prabhudas Lilladher has given a ‘HOLD’ rating on IRCTC, with a target price of ₹825
Post Q4 results, Prabhudas Lilladher has given a ‘HOLD’ rating on IRCTC, with a target price of ₹825
The PSU has received multiple orders from Himachal Pradesh State Electricity Board and Madhya Pradesh Metro Rail Corporation.
Shares of RVNL, the construction arm of the Ministry of Railways, gained as much as 11.86% to hit an intraday high of ₹281.45 on the BSE amid strong volume.
In the calendar year 2023, Texmaco Rail & Engineering share has rallied 210%, while it surged 220% in the past 12 months.
On Monday, the smallcap stock gained as much as 12% after it reported strong earnings in the September quarter of the current fiscal.
The financing arm of the Indian Railways has declared a total dividend of ₹1,960.28 crore, which works out to 30.93% of PAT for FY23, says Shelly Verma.
The stock, which made its market debut in June last year, hit a fresh all-time high of ₹398.10 on September 5, after touching 52-week low of ₹66.90 on September 27, 2022.
The government, which currently holds 86.36% shares in IRFC, has to dilute 11.36% stake in the company to meet SEBI’s minimum public shareholding norm.
On Wednesday, the stock rallied nearly 5% to hit a fresh all-time high of ₹529.20 level. The share price has risen 125% in the current calendar year.
In the last eleven months, the railway stock has surged more than 300% from its 52-week low of ₹29 on June 21, 2022, to ₹118.40 intraday today.