LIC increases its stake in IRCTC
In the last few years, Railways stocks have been giving good returns in the stock market. Due to this, large investors like LIC are also increasing their confidence in railway stocks. Recently, Life Insurance Corporation of India (LIC) has increased its stake in railway company IRCTC.
Life Insurance Corporation of India (LIC) on Thursday said it has increased its stake in Railways’ online ticketing and catering platform IRCTC to about 9.3 per cent.
LIC bought so many shares in 2 years
LIC has informed the stock market about this. It has been said that it has extensively bought and sold shares of Indian Railway Catering and Tourism Corporation (IRCTC) in the open market over the last two years. Due to this, its shareholding has increased by 2.02 percent between December 16, 2022, and September 11, 2024.
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The country’s largest insurance company says it has increased its holding in IRCTC shares from 5,82,22,948 shares or 7.28 per cent to 7,43,79,924 shares or 9.29 per cent.
IRCTC gave tremendous benefits
LIC shares on BSE closed at Rs 1,031.45 on Thursday, up 1.81 per cent compared to the previous closing price. Whereas, IRCTC shares closed at Rs 929.30. If we look at the returns of IRCTC shares, its share price has given a return of 35 per cent in the last one year. Whereas, its share has increased by approximately 500 per cent in the last 5 years. In the year 2019, its share price was just Rs 155.
IRCTC not only has a monopoly on the market in terms of issuing railway tickets. In fact, it also has the responsibility of managing the catering service of the Railways. Not only this, this Railways undertaking does the job of arranging food and beverages on trains to making tourist packages. IACTC also launched the country’s first private train, Tejas Express.
