IRCTC stock price down by more than 5% today

15 Dec 2022 , 10:31 AM

In intraday trade on Thursday, Indian Railway Catering and Tourism Corporation (IRCTC) fell 5% to Rs 696.70 on the BSE after the government set a floor price of Rs 680 per share for the sale of its stake in the provider of travel-related services (OFS).

Today is the opening day of the OFS for institutional investors; Friday is for ordinary investors. The floor price for the OFS was established at a 7.4% discount to the stock’s closing price of Rs 734.70 on Wednesday. IRCTC is the Indian Railways’ tourism and catering division. Currently, the government owns a 67.4% share in IRCTC. IRCTC traded 4.6 % lower at Rs 701.15 at 09:29 AM, while the S&P BSE Sensex fell by 0.22 %.

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