IRCTC gains on planning to expand operations in non-railway catering business across country

Indian Railway Catering And Tourism Corporation is currently trading at Rs. 792.15, up by 14.15 points or 1.82% from its previous closing of Rs. 778.00 on the BSE.

The scrip opened at Rs. 795.05 and has touched a high and low of Rs. 800.00 and Rs. 785.30 respectively. So far 378418 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 800.00 on 14-Dec-2023 and a 52 week low of Rs. 557.15 on 29-Mar-2023.

Last one week high and low of the scrip stood at Rs. 800.00 and Rs. 739.10 respectively. The current market cap of the company is Rs. 62920.00 crore.

The promoters holding in the company stood at 62.40%, while Institutions and Non-Institutions held 17.63% and 19.97% respectively.

Indian Railway Catering and Tourism Corporation (IRCTC) is planning to expand operations in non-railway catering business across the country. With a team of hospitality qualified professionals and enormous experience in planning and execution of catering projects and multiple services contracts in Railways, IRCTC is now on the road to proliferate in the areas of business beyond Railways for promoting its brand and business across the nation.

At present the company is managing catering services for various Ministries, Government Departments, Autonomous Bodies including Judiciary and Universities. The company has already set up its hospitality outlets in 9 such organizations including Department of Telecommunications - New Delhi, Calcutta High Court, UP Secretariat - Lucknow and so on.

With aggressive plans to further mark its signature in catering business and customizing to the requirements of clients, IRCTC has already signed memorandum of understanding (MoUs) with various government and autonomous bodies including defense establishments such as Border Security Force, Indian Maritime University - Kolkata, Cotton University - Guwahati and so on while the company is in active phase of commissioning 15 more catering units across the country in the near future. IRCTC foresees to expand its gamut of catering operations across the country and is in discussions with various other government organizations and industrial houses for setting up of catering units and also offer comprehensive catering solutions in sync with its aim of becoming a premier brand of Hospitality and Catering in the country.

IRCTC is the only entity authorised by the Indian railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.