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IRCTC Shares Gain On Plan To Monetise Rail Ticketing Data

Shares of IRCTC are on course to extend the winning streak for the fourth straight day.

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IRCTC Helpline Number Verified By Truecaller

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%.