Shares of Indian Railway Catering & Tourism Corp (IRCTC). jumped nearly 4% and are on course to extend winning streak for the fourth day.
- Trading volume is nearly 10 times the 30-day average. The relative strength index on the stock is 84, suggesting it may be overbought.
- The uptick comes after the company said that it is in the process of floating a tender to appoint a consultant to advise on monetisation value of digital assets.
- The ticket booking arm of Indian railways seeks to monetise its collection of passenger data and plans to raise Rs 1,000 crore through this exercise. The company had confirmed that it intended to monetise customer/vendor data to generate revenue and enhance its services, in its tender inviting bids. The company said in an exchange filing that it floated the tender to appoint a consultant, who will guide the company on monetisation of digital assets under IT Act 2000. It also added that the process is at an early stage and concrete outcome would only be known in due course of time.
Of the nine analysts tracking the company, three maintain ‘buy’, one recommends ‘hold’ and five suggest ‘sell’. The return potential of the stock is -20%.
Source: Exchange filing, Bloomberg
