Indian Railway Catering and Tourism Corp (IRCTC) stock was under selling pressure for two consecutive days on the 20th of October due to a sudden slump that followed record highs. IRCTC share price fell by 18%, after closing at 8.75 percent lower in the previous session. This slide has appeared after the stock rose more than 40 percent during the month.
Shares of IRCTC (Indian Railway Catering and Tourism) dipped massively on Wednesday in the stock market trade. IRCTC’s shares have fallen by over 15 percent during early trade and have continued to remain on the weaker side. The shares of IRCTC were at a 15% drop on BSE (Bombay Stock Exchange), at a cost of Rs 4630 per share.
The IRCTC share touched a 52-week high of Rs 6393 on October 19, 2021, and a 52-week low of Rs 1291, on November 4, 2020. It is trading 24.07 percent below its 52-week high and 276.01 percent above its 52-week low. Thus, considering the state of the previous session, it appears wise to avoid the purchase of these shares for the time being as there has been a huge dip.
Details On IRCTC Share Price:
Day high 4750.15
Day low 4415.45
Previous close 4432.95
52 week high 6293.00
52 week low 1291.00
Market cap 71568.00
Buy price 4470.50
Buy quantity 8.00
Sell price 4473.15
Sell quantity 19.00
More news on IRCTC Share Price
- IRCTC plummets 32% from a record high after rallying nearly 300% in 6 months.
- IRCTC. m-cap surpasses Rs 1 trillion, stock zooms 293% in 6 months.
- IRCTC touches new highs, zooms 141% since August after announcing the stock split plan.
- IRCTC. soars 20% within a week: analysts observe multiple triggers for the rise.
More relevant news can be found on news channels.
What Is The Reason Behind The Slump?
The reason behind the sudden slump is that yesterday there was a sharp turn in the stocks and also IRCTC stocks have been banned by the NSE Futures and Options (F&O) list. The stock has been banned under the F&O segment as it has crossed the 95% threshold of the MWPL. Most experts advise that this is not the right time to buy the stock and to wait for it to dip further. These are the causes and culprits behind the drop in the IRCTC share price.
To, conclude it has been noted that the stock has witnessed a steep decline of 15 percent before the market session came to an end yesterday. This has come as a surprise to many retail investors as the stock previously had hit a high of Rs 6393 during early trade on Tuesday this week.
For more informative articles, visit finance.