IRCTC Surges Over 7% On Stock-Split Plans
Indian Railway Catering and Tourism Corporation (IRCTC) shares surged more than 7 per cent in a strong market on the news that the board will meet on August 12 to consider splitting shares of the company. The decision on the stock split will be subject to the approval of the Ministry of Railways and the shareholders. At 12:35 pm, IRCTC shares were trading at Rs 2,493.40, up Rs 163.80 or 7 per cent, on the BSE.
"The board of Indian Railway Catering and Tourism Corporation will meet on August 12 to recommend the proposal for sub-division of company's equity shares of face value of Rs 10 each and matters related thereto," IRCTC said in a regulatory filing to the stock exchanges over the weekend.
When a company opts for a stock-split, there is an increase in its outstanding shares and a decline in price in the same ratio. For example, if the shares are split in the ratio of 2:1, an investor would get 2 shares for every share held by him / her and the market price of the shares will halve accordingly. Companies usually split shares to keep the share prices affordable for investors and ensure greater liquidity in the markets.
The board of IRCTC will consider and approve the unaudited financial results of the company for the quarter ended June 30, 2021.
The BSE Sensex was trading at 52,927.50, higher by 339.65 points or 0.65 per cent and the NSE was at 15,876.60, up 113.50 points or 0.73 per cent at the time.
-
Unhedged Position: Can India See An Indonesia-Style Time Correction?
The Nifty is trading below levels it first clocked in 2024. Is there, then, as I have suggested in the headline, potential that the current time correction drags on painfully for the next three-five, even ten years?
-
Navigating Friction And Energy Realities: An Analysis Of Marco Rubio's October Visit To India
Occurring at a critical juncture marked by stalled trade negotiations and escalating geopolitical pressures over global energy supplies, the visit offers a profound window into modern US-India relations.
-
India Exports Capital. Why Not Export Trusteeship?
The big question, then, is whether India can build an institution that global borrowers, investors, banks, and lawyers can trust, even without an Indian connection.
-
France's Economy & Politics Are In Crisis | The Reason Why
Let's look at how the French economy and politics evolved under Nicolas Sarkozy, Franois Hollande and Emmanuel Macron.
-
You May Inherit The Business. You Must Earn Its Credibility.
Succession tests the founder's ability to share authority as much as it tests the next generation's readiness to assume it.
-
Signing Deals Is One Thing; Making Them Work Is Another | The Week In Whys
Sometimes, things don't turn out as planned. Indian companies have lost some bids to rivals, some projects won't produce until 2030.
-
FOMC Wall, PERM Suspension, Hospital Stocks | Talking Points This Week
A PERM suspension would directly affect green-card sponsorship rather than H-1B visas, so the near-term earnings impact could remain relatively limited. The key question is whether this marks a new phase in US scrutiny of Indian IT.
-
Everything, Everywhere, All At Once: Dalal Street's Week To Forget | Joining The Dots
Visa curbs, a Starlink spat and cancer drug caps: what connects this week's shocks for Indian markets
-
India Is Going Abroad For Critical Minerals. But It May Take Years To Pay Off | The Reason Why
Although India's steps are in the right direction, they remain modest compared with India's growing dependence.
-
When Everyone Has AI, What Gives You An Edge?
India's young workforce is entering an uncertain world of work where powerful AI tools are becoming widely accessible. The advantage will belong to those who combine deep expertise with digital fluency, and the distinctly human capabilities that technology cannot manufacture.
