IRCTC Shares Gain On Plan To Monetise Rail Ticketing Data

Shares of Indian Railway Catering & Tourism Corp. Ltd. extended the winning streak for the fourth straight day, jumping 10% in the truncated week.

• The ticket booking arm of Indian railways seeks to monetise its collection of passenger data.

• IRCTC envisages a revenue generation potential of Rs 1,000 crore through monetisation of its digital assets, it said in the tender document.

• The company intends to monetise customer/vendor data to generate revenue and enhance its services, in its tender inviting bids.

• The company, in an exchange filing, said it has floated the tender to appoint a consultant, who will guide the company on monetisation of digital assets under IT Act 2000.

• It also said the process is at an early stage and concrete outcome would only be known in due course of time.

Shares of IRCTC rose 5.4% during the session, before closing with nearly 3% gains. The stock has gained 10% in four sessions in the truncated week.

• The trading volume was more than nine times the 30-day average, when markets closed on Friday.

• The Relative Strength Index was 83, suggesting the stock may be overbought.

• Of the nine analysts tracking the company, three maintain a 'buy', one recommends a 'hold' and five suggest a 'sell', according to Bloomberg data.

• The 12-month consensus price target implies a downside of 19.1%.