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

<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The Indian government has reportedly withdrawn its decision of asking 50% of Indian Railway Catering and Tourism Corporation’s (IRCTC) revenue from convenience fees.<br /><br />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. <br /><br />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.<br /><br />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. <br /><br />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.<br /><br />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. <br /><br />At 11:11 a.m. shares of the company were trading 4% lower at 875.95 per share.<br /><br />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><br /><br /><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

Zee Entertainment, Blue Dart, IRCTC and other top stocks to watch out for on September 30

<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.<br /><br />These quick gains have made the shares of the company spike 5 times i.e., 410% since its listing on exchanges in October 2019. <br /><br />Analysts believe the stock price is rising because of the company’s aggressive expansion plan in the hospitality sector. <br /><br />"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. <br /><br />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.<br /><br />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.<br /><br />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.<br /><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<br /><br /></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<br /><br /></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<br /><br /></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%<br /><br /></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<br /><br /></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%<br /><br /></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<br /><br /></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%<br /><br /></td></tr></tbody></table><br />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.<br /><br />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. <br /><br />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><br /><br /><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

Gujarat Fluorochem, Indiabulls Housing Finance, IRCTC and other hot stocks on December 17

<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.<br /><br />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. <br /><br />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.<br /><br />Even Twitter is so excited about IRCTC’s uphill growth that it has not turned into a meme fest.<br /><br />                  <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div><br />                  <div type="javascript" title="Custom" contenttype="Video"><cdata><![CDATA[ ]]></cdata></div><br />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.<br /><br />                  <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div><br />While people who own IRCTC stock are celebrating, there are also the ones who missed out on the deal. <br /><br />                  <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div><br />While others are trying to take a dig at IRCTC’s products. Well, no complaints there. <br /><br />                  <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div><br />Well to summarise it all, there is only one thing to say. <br /><br />                  <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div><br />The next goal is quite simple.<br /><br />                  <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[ ]]></cdata></div><br /><strong>SEE ALSO</strong><br /><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><br /><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><br /><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><br />

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

IRCTC, Tata Steel, Hero MotoCorp and other top stocks to watch out for on August 13

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

Rounak Jain

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

Bhakti Makwana

Zee Entertainment, Blue Dart, IRCTC and other top stocks to watch out for on September 30

Rounak Jain

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

Bhakti Makwana

Gujarat Fluorochem, Indiabulls Housing Finance, IRCTC and other hot stocks on December 17

Rounak Jain

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

Kritti Bhalla

IRCTC, Tata Steel, Hero MotoCorp and other top stocks to watch out for on August 13

Rounak Jain

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