IRCTC shares jump 16% as optimism grows over Covid-19 vaccine
As Sensex and Nifty hit a record highs on Friday, shares of travel-related stocks jumped with Indian Railway Catering and Tourism Corporation (IRCTC) being the top gainer. The subsidiary of the Indian Railways, IRCTC shares surged as much as 16 per cent to hit an intraday high of Rs 1,596 on the BSE. While India’s biggest airline operator, InterGlobe shares saw a jump of 5% to Rs 1,732. Shares of SpiceJet rose by 9% to Rs 88.25.
Compared to its 52-week low of Rs 774 hit during the market crash in March, IRCTC shares have risen 106% till date. However, it is still off its 52-week high of Rs 1,995, hit earlier this year.
Equity benchmarks rallied to record highs after the RBI left the policy rates unchanged but maintained its accommodative stance and revised upwards the growth forecast for this fiscal.
Breaching the 45,000-mark for the first time, the 30-share BSE Sensex surged 446.90 points or 1 per cent to finish at 45,079.55. Intra-day, it touched a lifetime peak of 45,148.28.
Similarly, the broader NSE Nifty touched a new high of 13,280.05 during the session, before finishing 124.65 points or 0.95 per cent higher at 13,258.55 -- its record closing high.
ICICI Bank was the top gainer in the Sensex pack, spurting 4.20 per cent, followed by UltraTech Cement, Sun Pharma, Bharti Airtel, HUL, SBI, L&T, Axis Bank and IndusInd Bank.
On the other hand, Reliance Industries, Bajaj Finserv, HCL Tech, HDFC and NTPC closed in the red, slipping up to 0.86 per cent.
(With agency inputs)
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