IRCTC share price tanks 2% today despite Q4 net profit jumps 30%; board declares dividend of Rs 2 per share IRCTC share price tanked 2% to Rs 632.75 today on profit booking after the state-owned company’s net profit rose 30.4% to Rs 278.80 crore in Q4FY23 from Rs Rs 213.78 crore in the same period the previous year. The company’s board recommended a final dividend of Rs 2 per equity share of face value of Rs 2 each for the financial year ended March 2023, at 100% of the paid-up share capital of Rs 160 crore. IRCTC stock has gained nearly 3% in the last one month while falling 9% in the last one year. “This final dividend is in addition to the interim dividend of Rs 3.50 per share declared by the Board of Directors in the month of February 2023 and already paid to the shareholders,” IRCTC said in a regulatory filing. IRCTC stock on Tuesday, touched an intraday high of Rs 645 and a low of Rs 625. The shares touched a 52-week high of Rs 775 on 7 November 2022 and a 52-week low of Rs 557 on 6 July 2022. At the current price of Rs 634.25, the company’s market capitalisation stands at Rs 50,740 crore. Meanwhile, the NSE Nifty 50 rose 55.30 points or 0.30% to 18,653.95 and BSE Sensex jumped 147.99 points or 0.24% to 62,994.37 today.
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FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.