IRCTC shares surge by 14%, reaching a 52-week high amidst a record-breaking turnover.

 In comparison to the previous closing level of ₹780.95, the shares of IRCTC on the BSE increased by 13.82%, reaching ₹888.90.

IRCTC stock is trading higher than the 5 days, 10 days, 100 days, 150 days & 200 days moving averages.

IRCTC shares surge by 14%, reaching a 52-week high amidst a record-breaking turnover.

Opening at ₹782.05, the railway share had a positive momentum. Indian Railway Catering and Tourism Corporation (IRCTC) shares saw a notable 14% increase during the session, setting a new 52-week high. 32.29 lakh shares were traded, generating a turnover of ₹271.51 crores for the company on the BSE. With a strong turnover of ₹534.59 crores in Safari Foods stocks, IRCTC recorded its second-highest business volume. As a result, IRCTC's market value increased to ₹70,548 crores.

Technical corrections caused IRCTC stock to drop to a 52-week low of ₹557.15 on March 29, 2023. Technical analysis shows that IRCTC is trading in the overbought area with a Relative Strength Index (RSI) of 71.4. IRCTC's stock has a one-year beta of 0.2, which indicates less volatility. The large-cap stock is up above its moving averages over the last five, ten, hundred, fifteen, and two hundred days.

In the same period of this fiscal year, IRCTC reported a stunning 30.4% increase in net profit over the previous year, reaching ₹294.7 crores. In the current fiscal year, the company's revenue from operations increased by 23.5% to ₹995.3 crores, from ₹805.8 crores in the corresponding period of the previous year.

In terms of operations, IRCTC made ₹366.5 crores for the quarter that ended in September, up 20.2% from ₹304.9 crores during the same period the previous year.