IRCTC IPO: BIG MONEY MAKER may list around this money range - What experts say
IRCTC IPO Listing: On account of DIIs and FIIs interest in the IRCTC shares, the IRCTC IPO is expected to list around Rs 550 per share when the stock market opens today.
IRCTC IPO Listing: On account of domestic institutional investors (DIIs) and foreign institutional investors (FIIs) interest in the Indian Railways Catering and Tourism Corporation (IRCTC) — Indian Railways' Mini Ratna company — shares, the IRCTC IPO is expected to list around Rs 550 per share when the stock market opens on today i.e. 14th Oct, Monday. According to the share market experts, the IRCTC IPO was subscribed 112 times which means DIIs have shown faith in the IPO but FIIs were not allowed to take part in IRCTC IPO bidding. Hence, those DIIs who couldn't get the IRCTC IPO in the allotment will be interested in buying the IRCTC shares while the FIIs might also take part in fresh buying when the IRCTC shares become open for stock market investors.
Speaking on the IRCTC IPO Listing Prakash Pandey, MD & CEO at Plutus Advisors said, "The IRCTC IPO is expected to open Rs 225-250 above the price at which the IRCTC IPO was available i.e. from its base price. We are expecting around Rs 550 listing for the IRCTC IPO today as DIIs have pumped around Rs 67,400 crore in the Indian markets in the last six months. Those DIIs who failed to get the IRCTC IPO in the allotment will be tempted to buy the stock when it become open in the stock market. Apart from this, FIIs may also take part in fresh buying when the IRCTC gets listed. So, both FIIs and DIIs are expected to further pull the IRCTC shares northward."
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Standing in sync with the Plusus vies; Sumeet Bagadia, Executive Director at Choice Broking said, "The IRCTC is a good investment option and one can book around 50 per cent profits on the IRCTC IPO listing day itself." He said that the IRCTC IPO will open at around 50 per cent above its base price on the listing day and its future outlook would become clear after witnessing how does the IRCTC share performs at Dalal Street in the next one to two quarters."
Rakesh Bansal, Vice President at RK Global said, "Being a Mini-Ratna company, IRCTC IPO is a good investment option for those who have strong faith in the PSU stocks. On the listing day itself, one can get more than 50 per cent profit as the IRCTC IPO has received huge response from the stock market investors, which was visible in its oversubscription."
The IRCTC IPO had a higher price band cap at Rs 320 and retail investors were given Rs 10 discount means a retail investor got the IRCTC IPO at Rs 310, which is the cheapest among the majority of the profit-making stocks at the Dalal Street.