Post «State-run IRCTC delivers India’s best trading debut in 2 years» in blog Прогноз погоды

People

John Smith

John Smith, 48

Joined: 28 January 2014

Interests: No data

Jonnathan Coleman

Jonnathan Coleman, 32

Joined: 18 June 2014

About myself: You may say I'm a dreamer

Interests: Snowboarding, Cycling, Beer

Andrey II

Andrey II, 41

Joined: 08 January 2014

Interests: No data

David

David

Joined: 05 August 2014

Interests: No data

David Markham

David Markham, 65

Joined: 13 November 2014

Interests: No data

Michelle Li

Michelle Li, 41

Joined: 13 August 2014

Interests: No data

Max Almenas

Max Almenas, 53

Joined: 10 August 2014

Interests: No data

29Jan

29Jan, 31

Joined: 29 January 2014

Interests: No data

s82 s82

s82 s82, 26

Joined: 16 April 2014

Interests: No data

Wicca

Wicca, 36

Joined: 18 June 2014

Interests: No data

Phebe Paul

Phebe Paul, 26

Joined: 08 September 2014

Interests: No data

Артем Ступаков

Артем Ступаков, 93

Joined: 29 January 2014

About myself: Радуюсь жизни!

Interests: No data

sergei jkovlev

sergei jkovlev, 59

Joined: 03 November 2019

Interests: музыка, кино, автомобили

Алексей Гено

Алексей Гено, 8

Joined: 25 June 2015

About myself: Хай

Interests: Интерес1daasdfasf, http://apple.com

technetonlines

technetonlines

Joined: 24 January 2019

Interests: No data



State-run IRCTC delivers India’s best trading debut in 2 years

16:00 | 14 October expand

State-run IRCTC delivers India’s best trading debut in 2 years

Indian Railway Catering and Tourism Corporation (IRCTC), a state-run firm that offers train ticketing and catering services in India, more than doubled on its first day of trading in what was the best public debut for a local firm in two years.

The firm sold 20.1 million shares, or a 12.5% stake on Monday, generating about $91.09 million for the Indian government. IRCTC is the fourth public company to come out of Indian Railways. The Indian government retains about 87.5% stake in the firm.

Shares of IRCTC on BSE and NSE — two stock exchanges in India — rose as much as 132% to Rs 743 ($10.4), compared to its issue price of Rs 320 ($4.5). It ended the day at Rs 728 ($10.2), up 127%, giving the Indian firm a market cap of $1.65 billion. State-run Housing & Urban Development and Cochin Shipyard, debuted two years ago with their offerings oversubscribed 75 times.

IRCTC, which was incorporated in 1999, offers online ticketing, catering, packaged water, and tourism services. The firm holds a monopoly on these train services in India. Catering business alone accounts for about 55% of IRCTC’s revenue.

Rail booking accounts for 24-26% of the online booking industry in India, according to industry estimates. The IRCTC, which introduced online rail booking in 2002, commanded 66% of all online train ticket booking in the fiscal year that ended in March 2018. The firm sold about 675,000 tickets each day in that year. Overall, the company sold $4 billion worth of tickets in that financial year.

Internet ticketing, which accounts for about 12.5% of IRCTC’s revenue, however, has the biggest profit margin — about 35%. Indian Railways, the fourth largest railway network in the world by size, serves more than 23 million people each day. Aloke Bajpai, co-founder and chief executive of travel and hotel booking firm Ixigo, said IRCTC may soon hit $2 billion in market cap. “More power to the strong potential of train travelers in the country.”

Last month, IRCTC introduced a convenience fee on booking of train tickets that could help it add as much as $50 million to its annual revenue, said Mahendra Pratap Mall, Chairman and MD of IRCTC, in an interview. He said online ticketing — especially after the introduction of the fee — is the chief area of growth for the firm.

IRCTC is charging Rs 15 (or 21 cents) for booking a ticket in a non-air conditioned coach, and twice that for air-conditioned compartments.

“Investors have shown tremendous faith in us. It’s a great listing and we are enthused and of course this has put more responsibility on us to do better. We will leave no stones unturned in doing so,” he said.

IRCTC was recently given permit to operate two private routes in India. “So far, the response has been very good. In future, we will like to operate more routes, which would help us increase our revenue,” he said.

IRCTC reported a net profit of $38.2 million in financial year that ended in March 2019, up from $30.9 million a year before. The company, which is debt-free, had a cash reserve of $160 million as of earlier this year.

State-run IRCTC delivers India’s best trading debut in 2 years State-run IRCTC delivers India’s best trading debut in 2 years State-run IRCTC delivers India’s best trading debut in 2 years State-run IRCTC delivers India’s best trading debut in 2 years State-run IRCTC delivers India’s best trading debut in 2 years State-run IRCTC delivers India’s best trading debut in 2 years
State-run IRCTC delivers India’s best trading debut in 2 years

 


Read more→

Posted on 14.10.2019 16:00

Comments

To show the previous comments (%s from %s)
Show new comments

Last comments

Walmart retreats from its UK Asda business to hone its focus on competing with Amazon
Peter Short
Good luck
Peter Short

Evolve Foundation launches a $100 million fund to find startups working to relieve human suffering
Peter Short
Money will give hope
Peter Short

Boeing will build DARPA’s XS-1 experimental spaceplane
Peter Short
Great
Peter Short

Is a “robot tax” really an “innovation penalty”?
Peter Short
It need to be taxed also any organic substance ie food than is used as a calorie transfer needs tax…
Peter Short

Twitter Is Testing A Dedicated GIF Button On Mobile
Peter Short
Sounds great Facebook got a button a few years ago
Then it disappeared Twitter needs a bottom maybe…
Peter Short

Apple’s Next iPhone Rumored To Debut On September 9th
Peter Short
Looks like a nice cycle of a round year;)
Peter Short

AncestryDNA And Google’s Calico Team Up To Study Genetic Longevity
Peter Short
I'm still fascinated by DNA though I favour pure chemistry what could be
Offered is for future gen…
Peter Short

U.K. Push For Better Broadband For Startups
Verg Matthews
There has to an email option icon to send to the clowns in MTNL ... the govt of India's service pro…
Verg Matthews

CrunchWeek: Apple Makes Music, Oculus Aims For Mainstream, Twitter CEO Shakeup
Peter Short
Noted Google maybe grooming Twitter as a partner in Social Media but with whistle blowing coming to…
Peter Short

CrunchWeek: Apple Makes Music, Oculus Aims For Mainstream, Twitter CEO Shakeup
Peter Short
Noted Google maybe grooming Twitter as a partner in Social Media but with whistle blowing coming to…
Peter Short


Site search