IRCTC hits record high on heavy volumes

Indian Railway Catering and Tourism Corporation (IRCTC) jumped 7.22% to Rs 2,061, extending its winning run to fourth consecutive session.

The stock has jumped 8.76% in four trading days from its previous closing low of Rs 1,895 on 1 June 2021. The counter hit a record high of Rs 2,083.85 in intraday today. The stock has soared nearly 65% from its 52-week low of Rs 1250 hit on 12 June 2020.

On the BSE, 2.76 lakh shares were traded in the counter so far compared with average daily volumes of 45,792 shares in the past two weeks. In last one month, IRCTC has risen 21.74% compared with 6% rise in Nifty 50 index.

The stock saw demand on the hope of reopening of economy by the government amid falling COVID-19 cases. India reported 1.14 lakh daily new Covid cases in last 24 hours, lowest in 60 days. Active cases decreased by 77,449 in last 24 hours.

On the technical front, the stock’s RSI (relative strength index)…

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