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In the afternoon session, Indian Railway Catering and Tourism Corporation (IRCTC) shares surged 14%, reaching a new 52-week high. In contrast to the previous close on the BSE of Rs 780.95, IRCTC shares increased 13.82% to Rs 888.90.

At Rs 782.05, the railway stock opened higher. A total of 32.29 lakh shares of the company were traded on the BSE, translating into a high turnover of Rs 271.51 crore. With a turnover of Rs 534.59 crore, Sapphire Foods stock saw the highest turnover, followed by IRCTC, which recorded the second highest. IRCTC’s market value increased to Rs 70,548 crore. On March 29, 2023, the IRCTC stock hit a 52-week low of Rs 557.15.

Technically speaking, IRCTC’s relative strength index (RSI) is 71.4, indicating that it is trading in overbought territory. The stock of IRCTC has a 0.2 one-year beta. This suggests that the stock is not very volatile. The large-cap stock is currently trading above the 200-day, 150-day, 100-day, and 5-day moving averages.

In comparison to the same period last year, IRCTC reported a 30.4% increase in net profit, coming in at Rs 294.7 crore as opposed to Rs 226 crore. Operational revenue increased by 23.5% to Rs 995.3 crore from Rs 805.8 crore during the same period last year.

Operatingly, the business earned Rs 366.5 crore during the September quarter in earnings before interest, taxes, depreciation, and amortization (EBITDA).

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