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<ul class="p-rich_text_list p-rich_text_list__bullet"><li>A media report said that DIPAM Secretary confirmed the withdrawal of its decision of sharing revenue from convenience fees.</li><li>The government had yesterday asked <keyword id="65866" type="General" weightage="20" keywordseo="irctc" source="Orion">IRCTC</keyword> to share 50% of revenue coming from service charts on e-ticketing, i.e., convenience fees.</li><li>Shares of IRCTC, which had slipped more than 25% on Friday morning, recovered on this news.</li></ul>The Indian government has reportedly withdrawn its decision of asking 50% of Indian Railway Catering and Tourism Corporation’s (IRCTC) revenue from convenience fees. CNBCTV-18 reported that the secretary at the department of investment and public asset management (DIPAM) confirmed the withdrawal of its decision of sharing revenue from convenience fees. Shares of IRCTC recovered after a sharp fall on Friday morning trade on the announcement of sharing half of its <a href="https://www.businessinsider.in/business/corporates/news/government-asks-irctc-to-share-half-of-its-convenience-fees-revenue/articleshow/87338962.cms">convenience fees </a>with the government. On October 28, after the railway company informed stock exchanges of the government’s decision, many investors had criticised the move on social media portals. Shares of Indian Railway Catering and Tourism Corporation recovered after losing more than 25% in the early trade on announcement of government asking IRCTC 50% of revenue coming from service charts on e-ticketing, i.e., convenience fees, with the government. The move came as a big shock to investors as it meant IRCTC would have to share a chunk of its revenue with the government. In FY21, IRCTC earned ₹299 crore from this segment, which is almost 40% of its revenue from operations of ₹783 crore. At 11:11 a.m. shares of the company were trading 4% lower at 875.95 per share. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/irctc-infosys-interglobe-aviation-and-other-trending-stocks-on-october-29/slidelist/87352424.cms">IRCTC, Infosys, InterGlobe Aviation and other trending stocks on October 29</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/news/zerodha-founders-rakesh-jhunjhunwala-zohos-radha-vembu-akshay-kumar-and-more-donate-up-to-50-crore-in-fy21/slidelist/87340238.cms">Zerodha founders, Rakesh Jhunjhunwala, Akshay Kumar and more donate up to ₹50 crore in FY21</a>

IRCTC stock recovers losses as government reportedly withdraws decision on convenience fee revenue share

<ul><li><keyword id="8162911" type="General" weightage="20" keywordseo="irctc-shares" source="Orion">IRCTC shares</keyword> have grown a whopping 610% since its listing two years ago.</li><li>If you had invested ₹1,00,000 on its IPO in October 2019, your shares would now be worth ₹7,10,000.</li><li>India’s Twitterati are having their share of fun with this.</li></ul>The share price of <keyword id="65866" type="General" weightage="20" keywordseo="irctc" source="Orion">IRCTC</keyword>, or Indian Railway Catering and Tourism Corporation, climbed over ₹5,000 earlier on Thursday. And it will be wrong to say one did not anticipate it. IRCTC’s performance in the stock market has been quite a stellar one so far. The company’s shares have grown a whopping 610% since its listing exactly two years ago. If you had invested ₹1,00,000 on its IPO in October 2019, your shares would now be worth ₹7,10,000. A seven fold return in a span of 24 months is great news for an investor. Even Twitter is so excited about IRCTC’s uphill growth that it has not turned into a meme fest. <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div> Brokerage firm Anand Rathi, in August 2021, anticipated IRCTC shares to be valued at ₹2,850 apiece in the next one year. The company has outperformed all expectations. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> While people who own IRCTC stock are celebrating, there are also the ones who missed out on the deal. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> While others are trying to take a dig at IRCTC’s products. Well, no complaints there. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> Well to summarise it all, there is only one thing to say. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> The next goal is quite simple. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div> SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/urban-company-has-announced-a-12-point-agenda-to-improve-partner-earnings-after-over-100-workers-protest/articleshow/87015949.cms" data-type="tilCustomLink">Urban Company has announced a 12-point agenda to improve partner earnings after over 100 workers protest</a> <a href="https://www.businessinsider.in/stock-market/news/itc-surges-5-on-reports-of-potential-investment-from-an-e-commerce-titan/articleshow/87016393.cms" data-type="tilCustomLink">ITC surges 5% on reports of potential investment from an e-commerce titan</a> <a href="https://www.businessinsider.in/careers/news/infosys-wipro-shares-up-as-q2-earnings-excite-investors/articleshow/87013663.cms">India’s techies are leaving IT firms in hordes —Here’s why</a>

IRCTC share price crosses the ₹5,000-mark and India’s Twitterati see the funny side of it

<ul><li>The Indian railways stock has surged over 400% since its debut on the stock exchanges in October 2019.</li><li>Analysts are highly positive about <keyword id="65866" type="General" weightage="20" keywordseo="irctc" source="Orion">IRCTC</keyword>’s aggressive expansion plan in the hospitality sector and believe that the stock would reach ₹5,000 from the ₹3,000-level currently.</li><li>The market capitalisation of the stock is ₹63,726 crore.</li></ul>Shares of the <keyword id="70669" type="General" weightage="20" keywordseo="indian-railway-catering-and-tourism-corporation" source="Orion">Indian Railway Catering and Tourism Corporation</keyword> (IRCTC) have been trading with huge volumes in the last few weeks to gain almost 50% in one month. These quick gains have made the shares of the company spike 5 times i.e., 410% since its listing on exchanges in October 2019. Analysts believe the stock price is rising because of the company’s aggressive expansion plan in the hospitality sector. "IRCTC is aggressively focusing on its hospitality business by tying up with hotels, tour and travel service providers and local food suppliers. It is also giving special focus to its food chain business in running trains. Apart from this, IRCTC has made tie-ups with aviation companies as well. So, [the] market has realised that in coming times, it is no more [sic] going to remain an Indian Railways' e-ticket booking platform. It will emerge as A-Z hospitality service provider," said Ravi Singhal, vice chairman at GCL Securities according to a report by Mint. Analysts at Swastika Investmart reportedly say the reopening theme post covid restrictions is the reason for the traction in the stock along with news of stock split. Railways' <a href="https://www.livemint.com/market/stock-market-news/why-analysts-are-bullish-on-irctc-ircon-here-are-the-triggers-11629954156351.html">asset monetisation plan</a> is another trigger for the stock rise. On August 12, IRCTC approved a stock split in the ratio of 1:5 to enhance the liquidity in the capital market, widen the shareholder base and make the shares affordable to small investors. A stock split is generally done to make the stock more affordable for the small retail investors and increase liquidity. On September 17, the stock was up 5.44% as of 10:43 a.m., with heavy volumes. 5.29 million shares changed hands on the exchanges as compared to a roughly average volume of around 1 million shares. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gains in IRCTC share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last 5 days </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">One month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">This year so far </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">174% </td></tr></tbody></table> IRCTC is a central public sector enterprise operating in four segments, namely internet ticketing, catering, packaged drinking water, and travel and tourism. Aside from being the preferred portal for booking tickets, its subsidiary Rail Neer already accounts for nearly one in every two bottles of water sold in any railway station in India. Moreover, the company has been performing well on the financial front as it made a profit of ₹82.53 crore in June quarter 2021 as compared to loss of ₹24.60 crore during the same period last year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/universal-pension-is-a-better-idea-than-universal-basic-income-says-indias-chief-economic-advisor/articleshow/86282048.cms">Future of Work 2021: Universal pension is a better idea than universal basic income, says India's Chief Economic Advisor</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/the-only-way-to-beat-the-bots-from-taking-your-job-is-to-be-more-human/articleshow/86282273.cms">Future of Work 2021: The only way to beat the bots from taking your job is to be more human</a>

IRCTC soars almost 50% in one month on expansion strategy, boost in train bookings

<ul><li>From its issue price of ₹320, <keyword id="65866" type="COMPANY" weightage="20" keywordseo="IRCTC">IRCTC</keyword> share prices surged to ₹728 by the time the markets closed. </li><li>Even when IRCTC had opened for subscription between September 30 and October, it was oversubscribed 112 times.</li><li>In FY19, IRCTC’s total revenue stood at ₹19,566 million. </li></ul>Indian Railway Catering and Tourism Corporation (IRCTC) had a blockbuster debut on the stock exchanges today – as it doubled investor wealth on the very first day of its <keyword id="35212" type="PERSON" weightage="20" keywordseo="listing">listing</keyword>. From its issue price of ₹320, IRCTC share price rose to ₹728 by the time the markets closed. Its stock price rise was also aided by healthy global cues also pushed the Sensex up by 150 points in early trade, though it ended adding 87 points for the day. Owned by the Indian government, IRCTC is the only authorized company that sells Indian Railway tickets online. Since it virtually has no competition and railway tickets are constantly in demand, investors were excited with its IPO, which was oversubscribed by 112 times over. Being one of the world’s busiest sites for ticketing, IRCTC’s transaction volume averages between 25-28 million a month. In FY19, IRCTC’s total revenue stood at ₹19,566 million. “Levy of convenience fee on ticket bookings and commissioning of six new Rail Neer plants is expected to aid IRCTC’s revenue CAGR at 16% over FY19-21E,” IIFL securities had said in its IPO note. However, IRCTC also comes with its own risks since it serves only one client . “IRCTC’s business and revenues are substantially dependent on <keyword id="6355455" type="DEFINITION" weightage="20" keywordseo="indian-railways">Indian Railways</keyword>. Any adverse change in policy of the Ministry of Railways may adversely affect the business and financials,” IIFL Securities had said.

IRCTC doubles investor wealth as its stock surges 128% on listing

IRCTC, Infosys, InterGlobe Aviation and other trending stocks on October 29

<ul><li>Shares of Indian Railway Catering and Tourism Corporation have surged as much as 30% in just the last five days paving the way for the company to cross the ₹1 trillion-mark.</li><li>The railway company’s stock has grown a whopping 334% in 2021 so far.</li><li>Among other triggers fuelling the stocks, the latest one is the company starting many special tourist trains for the festive season.</li></ul>Investors value companies operating in a monopolistic business and Indian Railway Catering and Tourism Corporation (<keyword id="65866" type="General" weightage="20" keywordseo="irctc" source="Orion">IRCTC</keyword>) is a true example of that. The company’s market capitalisation has touched ₹1 trillion as its stock spiked about 8% on Tuesday, October 19. The railway company added ₹30,000 crore in market cap in just nine days as its shares continued to rally. The share price has skyrocketed 712% since it got listed in October 2019. IRCTC has become one of investors’ favourite stocks because of its monopoly in rail ticket booking. Currently, one of the major triggers fuelling the rally in the stock is the company starting many special tourist trains for the festive season. The stock was trading at ₹6,343 per share at 9:56 a.m., on Tuesday. The market cap of the company has crossed ₹1 trillion and is currently at ₹1.01 trillion. However, later in the day shares of the company suddenly corrected 15%. Apart from this, investors are awaiting development on the company’s plan to split the stock. On August 12, IRCTC approved a stock split in the ratio of 1:5 to enhance the liquidity in the capital market, widen the shareholder base and make the shares affordable to small investors. A stock split is generally done to make the stock more affordable for the small retail investors and increase liquidity. Moreover, its expansion plan in the hospitality sector has also impressed investors over the period of time. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/retail/news/dmart-is-continuing-to-do-what-it-knows-best-but-the-street-wants-more/articleshow/87113806.cms">DMart is continuing to do what it knows best but the street wants more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sbi-tata-power-lampt-infotech-and-other-top-stocks-to-watch-out-for-as-nifty-looks-to-extend-its-bull-run/slidelist/87126844.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sbi-tata-power-lampt-infotech-and-other-top-stocks-to-watch-out-for-as-nifty-looks-to-extend-its-bull-run/slidelist/87126844.cms">SBI, Tata Power, L&amp;T Infotech and other top stocks to watch out for as Nifty looks to extend its bull run</a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sbi-tata-power-lampt-infotech-and-other-top-stocks-to-watch-out-for-as-nifty-looks-to-extend-its-bull-run/slidelist/87126844.cms"></a><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sbi-tata-power-lampt-infotech-and-other-top-stocks-to-watch-out-for-as-nifty-looks-to-extend-its-bull-run/slidelist/87126844.cms"></a>

IRCTC crosses ₹1 lakh crore in market cap for the first time as investors adore its monopoly

<ul><li><keyword id="70669" type="ORGANIZATION" weightage="20" keywordseo="Indian-Railway-Catering-and-Tourism-Corporation">Indian Railway Catering and Tourism Corporation</keyword> (<keyword id="65866" type="COMPANY" weightage="20" keywordseo="IRCTC">IRCTC</keyword>) shares have zoomed 216% since its listing in October 2019.</li><li>Analysts expect the stock to gain more in the months ahead as people travel more, with more vaccinations and fewer infections.</li><li>Its recent tie-ups with tech platforms and new bottling plants are expected to boost revenue growth</li><li>Check out the latest news and updates on Business Insider.</li></ul>Indian Railway Catering and Tourism Corporation (IRCTC) shares have zoomed 216% since its listing in October 2019. Now, the ₹40,000 crore ($5.7 billion) company, which has a monopoly in ticket bookings and catering for the Indian Railways, plans to split the stock. A stock split is the process of reducing the price, in turn, giving the existing shareholders more shares in the company. If you have 1,000 shares worth ₹100 each, and the stock split is 10:1, you will have 10,000 shares worth ₹10 each. It makes it more affordable for small investors to buy and sell shares. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gains in IRCTC share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 week </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">This year so far </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">73% </td></tr></tbody><tbody></tbody></table> The next question would be what led to the outperformance and rapid uptick in the stock? Investors expect that the economy will open up, people will travel more, as the vaccinations pick up pace and the pandemic peters out. The recovery is already visible in its earnings of the last four quarters. In its report in July 2021, broking firm Anand Rathi said the shares could worth ₹2,850 apiece in the next one year. <div type="image" title="IRCTC chart" height="900" width="1200" msid="84967721" hostid="261"></div> IRCTC is a central public sector enterprise operating in 4 segments, namely internet ticketing, catering, packaged drinking water and travel &amp; tourism. Aside from being the preferred portal for booking tickets, its subsidiary Rail Neer already accounts for nearly one in every two bottles of water sold in any railway station in India. It plans to commission four new bottling plants this year and that would mean more supply to meet the demand as it revives. Recently, in e-catering, the company has partnered with private tech platforms like travel portal Ixigo and payments startup MobiKwik to name a few. “Going forward, management expects to reach the pre COVID level very soon after the resumption of Tejas Express, increase in convenience revenue to 25%, capacity expansion of Rail Neer and the impact of price hike announced in catering will play out by then,” the Anand Rathi report said. SEE ALSO: <a href="https://www.businessinsider.in/business/news/exclusive-indias-largest-zinc-miner-is-eyeing-a-share-of-the-bangladesh-economic-boom/articleshow/84963388.cms">India's largest zinc miner Hindustan Zinc is eyeing a share of the Bangladesh economic boom </a> <a href="https://www.businessinsider.in/stock-market/news/zomato-indigo-paints-bectors-food-ujjivan-small-finance-bank-and-other-hot-stocks-that-have-lost-steam-since-listing/articleshow/84964352.cms">Zomato, Indigo paints, bectors food, Ujjivan small finance bank and another hot stocks that have lost steam since listing</a>

₹10,000 invested in IRCTC shares on listing is worth more than ₹38,000 today ⁠— the record could get even better

<ul><li><keyword id="4905924" type="COMPANY" weightage="20" keywordseo="The-Railway-Board">The Railway Board</keyword> on Thursday in a notification said that tickets booked for the regular trains from July 1 to August 12 stand cancelled.</li><li>IRCTC is also set to announce its fourth-quarter results today for the quarter ending March 2020. </li><li>Follow the<a href="https://www.businessinsider.in/"> latest news and updates on Business Insider</a>. </li></ul>A day after <keyword id="6355455" type="COMPANY" weightage="20" keywordseo="indian-railways">Indian Railways</keyword> extended regular train suspension till August 12 in the wake of <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> lockdown, India’s top online booking portal Indian Railway Catering and Tourism Corporation (IRCTC) stocks crashed. The shares fell over 3% in early trade on June 26. <div type="image" title="IRCTC Stock Price" msid="76637397" hostid="261"></div> The Railway Board on Thursday in a notification said that tickets booked for the regular trains from July 1 to August 12 stand cancelled. However, it added that “all special Rajdhani, mail and express trains that started operating from May 12 and June 1 will continue to operate.” IRCTC is also set to announce its fourth-quarter results today Analysts do not have great hopes from the earnings for the quarter ending March 2020. Even before the lockdown, the number of tickets sold via IRCTC declined in early March to 5.5 lakh tickets per day in comparison to pre-COVID level of 8.5 lakh tickets each day, according to a report from Prabhudas Lilladher, a stockbroking firm. <div type="Article" hostid="261" msid="76618590" title="How does IRCTC make money" mstype="2" mssubtype="0"></div> Research firm Prabhudas Lilladher expects a hit of anywhere between 5.1% to 23% on IRCTC's this year's earnings due to extended suspension and ticket cancellation. “We have only enabled refunds for trains which are not being operated and for which tickets have been booked prior to lock down and up to April 14,” <a href="https://www.businessinsider.in/india/news/indian-railways-cancels-all-regular-trains-till-aug-12-special-trains-to-continue/articleshow/76636349.cms">a Railway spokesperson said</a>. SEE ALSO: <a href="https://www.businessinsider.in/india/news/irctc-website-crashes-as-it-reopened-for-booking-after-50-days-now-it-will-be-open-for-bookings-from-6-pm/articleshow/75675640.cms" data-type="tilCustomLink">IRCTC website crashes as it reopened for booking after 50 days — now, it will be open for bookings from 6 pm</a> <a href="https://www.businessinsider.in/india/news/indian-railways-new-rules-for-train-passengers-no-linen-and-only-packaged-food-allowed/articleshow/75675286.cms?_ga=2.9598773.1017742101.1592740209-81863974.1580121362" data-type="tilCustomLink">Indian Railways' new rules for train passengers —no linen and only packaged food allowed</a>

Cancelled trains drag IRCTC shares down by over 3%

Share market enthusiasts in India can’t stop raving about a new kid on the block-- the Indian Railway Catering and Tourism Corporation, IRCTC in short. In just the opening day, the stock more than doubled the wealth of those who bought shares in the initial public offering (IPO) that concluded recently. This was the best single-day gain for any stock on its debut in the last two years in India. But the signs were visible even before. Early investors wanted 112 times the number of shares offered in the IPO, in a price band of ₹315 to ₹320. The government raised a little less than $100 million from the IPO. Yet, the fact remains that the company has only client, its parent Indian Railways, but at the same time it has a monopoly that is rarely matched. It's a bit like a guy who started a business whose only client is his father. There was unmistakable excitement during the <keyword id="4194140" type="PERSON" weightage="20" keywordseo="IRCTC-IPO">IRCTC IPO</keyword> and why not! The company had a revenue of nearly ₹19,000 crore (nearly $2.7 billion) in the financial year ending March 2019-- clocking over 22% growth in revenue during the year. Irctc.com had an average of 25 million to 28 million transactions per month, and an average of 7.2 million logins every day, in the five months ending August 2019-- making it one of the most-used websites in Asia Pacific (APAC). Not only is it the only entity to authorise train bookings in India, it has the solo rights to serve food and beverages to people travelling long distances by train in India. The catering business alone made nearly $1.5 billion for the company last year. All of this had earned a consistent of return of 23% on the equity every year since 2017, according to HDFC Securities. The beneficiary until now was the company’s only shareholder-- the Government of India. The Indian state’s stake in the company has fallen to 87% post the IPO. The government sold the shares at ₹315 to ₹320 and on October 15, the day after the listing, the stock was trading at ₹731. Did the Indian government sell it too cheap? SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/irctc-doubles-investor-wealth-as-its-stock-surges-128-on-listing/articleshow/71580009.cms" data-type="tilCustomLink" target="_blank">IRCTC doubles investor wealth as its stock surges 128% on listing</a>

An Indian company has only one client and yet, it's a nearly $3 billion monopoly

<ul><li>At 7:40 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to see a slow start on Friday, led by positive cues from the global markets. At 7:40 am, the SGX Nifty was up 0.17%, indicating a green start for Nifty50. The US stocks closed mixed on Thursday amid disappointing economic data and slowed stimulus progress. The Dow Jones Industrial Average closed 0.23% lower, and the Nasdaq Composite was up 66 points. These are the stocks to watch out for during the trading session today: TVS Motor The members of the $8.5 billion TVS family decided to restructure the ownership of various companies, a measure which does not involve payment of brand royalty to the family members or their holding companies. The share price of TVS Motor closed 0.42% lower on Thursday. IRCTC The offer-for-sale for the Indian Railway Catering and Tourism Corp (IRCTC) was subscribed nearly two times on day by the non-retail investors. The retail investors will get a chance to bid for IRCTC offer-for-sale (OFS) today. The government is planning to sell up to 20% stake in IRCTC through OFS which opened for subscription on Thursday. The share price of IRCTC closed 12% lower on Thursday. HDFC Bank The private lender HDFC Bank informed exchanges that the Reserve Bank of India (RBI) had imposed a monetary penalty of ₹10 lakh on the bank for bouncing of subsidiary general ledger (SGL). This led to a shortage of balance in certain securities in the Bank’s CSGL account on November 19, it said. The share price of HDFC Bank closed 2% lower on Thursday. Dalmia Bharat, UltraTech Cement, ACC, Ambuja Cements and Shree Cement According to <a href="https://www.livemint.com/news/india/cci-searches-offices-of-major-cement-cos-11607621552574.html">reports</a>, the Competition Commission of India (CCI) has conducted searches on the premises UltraTech Cement, ACC, Ambuja Cements, Dalmia Cement (Bharat) and Shree Cement, among others to find evidence of price collusion. United Spirits United Spirits, a part of global liquor giant Diageo appointed Hina Nagarajan as the company’s new CEO with effect from July 1, 2021. Incumbent Anand Kripalu will step down on June 30. The share price of United Spirits closed 2% higher on Thursday. TCS Tata Consultancy Services (TCS) said it plans to invest more than $100 million in Austin and hire 1,000 new employees across Texas. TCS has expanded its business operations in Austin, Texas with the construction of a new facility, doubling its presence to more than 400 professionals in the city and adding to its over 5,500 employees across the state. The share price of TCS closed 1% lower on Thursday. Mahindra &amp; Mahindra ICRA has reaffirmed Mahindra &amp; Mahindra rating of non-convertible debenture programme of ₹1,500 crore to stable. It has also assigned a stable rating to long-term loans worth ₹1,800 crore. The share price of Mahindra &amp; Mahindra closed 3% lower on Thursday. Canara Bank Canara Bank said it had approved the issue price at ₹103.50 per share for its qualified institutional placement (QIP) to raise ₹2,000 crore. Earlier this week, the bank had set the floor price for the issue at ₹103.50 apiece. The share price of Canara Bank closed 5% lower on Thursday. Jash Engineering The pump and pumping equipment manufacturing company, Jash Engineering received orders worth ₹20.65 crore in November. The share price of Jash Engineering closed 2% lower on Thursday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others

<ul><li>The offer for sale has opened for non-retail investors today. </li><li>The government is planning to sell up to 20% stake in the company. </li><li>The floor price has been set at ₹1367, which is at a 16% discount to the last closing price on December 9. </li></ul>The shares of <keyword id="3219311" type="COMPANY" weightage="20" keywordseo="Indian-Railway-Catering-and-Tourism-Corp">Indian Railway Catering and Tourism Corp</keyword> (IRCTC) plunged over 8% in morning trade as the two-day offer for sale (OFS) gets underway. The government is planning to sell up to 20% stake in the company. The OFS has opened for non-retail investors today. Floor price has been set at ₹1367, which is at a 16% discount to the last closing price on December 9. <div type="image" title="ITC Share price (1)" msid="79656890" hostid="261"></div> The promoter proposes to sell up to 2,40,00,000 equity shares of IRCTC, representing up to 15% stake, with an option to additionally sell 80,00,000 shares, representing 5% of the total issued and paid up equity share capital, the company said in a regulatory filing. "Offer for Sale in IRCTC opens tomorrow for Non Retail investors. Day 2 for retail investors. Govt. would divest 15 per cent equity with a 5 per cent green shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a tweet. Shares of IRCTC on Wednesday closed at Rs 1,618.05 apiece on the BSE, down 1.55 per cent from its previous close. In all, the promoter Government of India will sell 3.2 crore shares, which is expected to garner Rs 4,374 crore for the exchequer starved of funds due to the COVID-19 crisis. <keyword id="9901399" type="UNKNOWN" weightage="20" keywordseo="IRCTC-ofs">IRCTC OFS</keyword> will help the government inch forward in meeting the Rs 2.10 lakh crore disinvestment target. Of this, Rs 1.20 lakh crore will come from disinvestment of public sector undertakings and another Rs 90,000 crore from stake sale in financial institutions. The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, the government has to lower its stake in the company to 75 per cent. IRCTC, the only entity authorised by Indian Railways to provide catering services, online railway tickets and packaged drinking water at railway stations and trains in India, was listed on the stock exchanges in October 2019. The company had raised Rs 645 crore through the IPO. The Union Cabinet had in April 2017 approved listing of five railway companies. While four of them -- IRCON International Ltd, RITES Ltd, <keyword id="185930" type="COMPANY" weightage="20" keywordseo="Rail-Vikas-Nigam-Ltd">Rail Vikas Nigam Ltd</keyword> and IRTC -- have already been listed, IRFC is likely to be put on the block this fiscal. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

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IRCTC stock recovers losses as government reportedly withdraws decision on convenience fee revenue share

Bhakti Makwana

IRCTC share price crosses the ₹5,000-mark and India’s Twitterati see the funny side of it

Kritti Bhalla

IRCTC soars almost 50% in one month on expansion strategy, boost in train bookings

Bhakti Makwana

IRCTC doubles investor wealth as its stock surges 128% on listing

Sanchita Dash

IRCTC, Infosys, InterGlobe Aviation and other trending stocks on October 29

Rounak Jain

IRCTC crosses ₹1 lakh crore in market cap for the first time as investors adore its monopoly

Bhakti Makwana

₹10,000 invested in IRCTC shares on listing is worth more than ₹38,000 today ⁠— the record could get even better

Bhakti Makwana

Cancelled trains drag IRCTC shares down by over 3%

Navdeep Yadav

An Indian company has only one client and yet, it's a nearly $3 billion monopoly

Sriram Iyer

Top stocks to watch — IRCTC, HDFC Bank, TCS, TVS Motor, Dalmia Bharat, UltraTech, ACC, Ambuja, and others

Navdeep Yadav

IRCTC tumbles 8% as government's 20% stake sale through OFS begins

BI India Bureau

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