Stocks

IRCTC stocks fall for second day; sheds 2 per cent

PTI New Delhi | Updated on October 16, 2019 Published on October 16, 2019

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The IPO of IRCTC was a huge hit among investors

Shares of newly-listed Indian Railway Catering and Tourism Corporation (IRCTC) fell for the second day on Wednesday by about 2 per cent after a blockbuster debut earlier this week.

The stock declined 1.75 per cent to close at Rs 700.60 on the Bombay Stock Exchange (BSE). During the day, it dropped 2 per cent to Rs 698.40.

On the National Stock Exchange (NSE), it went lower by 1.75 per cent to close at Rs 700.65.

In the last two days, the scrip has fallen by 3.84 per cent.

Shares of IRCTC had more than doubled in debut trade on Monday, skyrocketing 129 per cent against its issue price of Rs 320 per share.

The IPO of IRCTC was a huge hit among investors, as it was subscribed 111.91 times earlier this month in a three-day bidding process.

Read: IRCTC IPO: Not enough to repair investor disinterest in PSUs

IRCTC is the only entity authorised by Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.

Published on October 16, 2019
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