IRCTC Share Price Today: Indian Railway Catering and Tourism Corporation (IRCTC) shares will be trading ex-dividend today which comes a day ahead of its record date, August 19. IRCTC has set a record date to finalise eligible shareholders for final dividend payment. The board of directors of IRCTC has already approved final dividend of Rs 1.50 per per equity share for the financial year 2021-22. This final dividend of Rs 1.5 per equity share is in addition to the interim dividend of Rs 2.0 per equity share announced in February 2022.
“The company has fixed Friday, August 19, 2022, as the ‘Record Date’ for determining entitlement of members to final dividend for the financial year ended March 31, 2022, if approved at the AGM,” IRCTC said in a regulatory filing.
Shares of IRCTC were trading at Rs 675.8, up 0.85 per cent from the previous close on the BSE. The stock has been gaining for the last three days and has risen 1.43 per cent in the period.
What is an ex-dividend?
Ex-dividend refers to a stock that trades without the value of the next dividend payment. A stock is ex-dividend if it trades on or after the ex-dividend date. If you buy a stock after it has gone ex-dividend, you will own the stock but will not get the next dividend payment for that stock. Instead, the payment will go to the person who sold you the stock.
IRCTC Financials
IRCTC posted a 196 per cent surge in its net profit, at Rs 246 crore, for the quarter ending June 30, 2022-23 (Q1 FY23). It reported a net profit of Rs 82.5 crore in the year-ago period (Q1 FY22). The company’s revenue from operations zoomed 251 per cent to Rs 853 crore in the June quarter of this financial year from Rs 243 crore in Q1 FY22.
Indian Railways’ ticketing arm reported a slump of 820 basis points in its quarterly margin compared with the corresponding period a year ago. IRCTC reported a net profit of Rs 248.5 crore for the quarter ended June 2022, nearly three times more compared with the year-ago period. The share of revenue from its internet ticketing unit came down to 35.4 percent for the April-June period from 42.3 percent in the previous three months.
Should you Invest in IRCTC Shares?
Manoj Dalmia, founder, and director-Proficient Equities Limited, said: “IRCTC shares are going to trade ex-dividend today as the Indian Railways’ PSU has fixed August 19, 2022, as the record date to finalise eligible shareholders for final dividend payment. IRCTC shares are going to trade ex-dividend today as the Indian Railways’ PSU has fixed 19th August 2022 as the record date to finalise eligible shareholders for final dividend payment.”
Santosh Meena, head of research, Swastika Investmart Ltd., said: “The counter has corrected meaningfully after a vertical rise in 2021 and now it is bottoming out with a rounding bottom formation where it managed to trade above 100-DMA that may generate further buying interest for a move towards its 200-DMA of 750. The overall target comes around 950 level therefore investors can accumulate this stock at the current level.”
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