The share which was buzzing throughout October 2021, has now seen the lower side of it. The hype is now over and the reality has hit the market to show the facts.
The all the buzzing IRCTC share price has dropped down by a whopping 38%. That was at the same time expected and told by the experts and general public.
The Initial Public Offering of IRCTC shares was opened on September 30, 2019, and the issue price was around Rs. 315-320 and Listed at NSE and BSE on October 14, 2019. The continuous growth in this share was seen. The growth was so remarkable that even experts were clueless at times.
The share price kept going up even after reaching the expected high. The price of IRCTC shares was reached Six Thousand Three Hundred and Ninety-Three (6,393) on October 19, 2021. On September 30, 2021, the share price was marked at Three Thousand Seven Hundred and Ninety-Seven (3,797). On October 19, the total increase in share price was noted as 68%.
The journey was fascinating till October 19, and then the fall in price started taking place. After reaching the peak of its life the slack started taking place. The share price started going down consistently. The price was down to Rupees Four Thousand and twenty-nine (Rs. 4,029). A downward progression of a total of 37% (Approx.) was noted.
As expected after a big boom, the share price went down. But even after that, the share price to go down by a whopping 37% was not expected. There are several reasons behind this fall and a few are serious ones where investors can find their interest.
There was too much consistent growth in the price of the share without any dip. That isn’t a great sign for any share. Also, speculation was made about the split of the share. This has been a major reason contributing to the dip.
The share price has now definitely somewhere got stable near 4200-4400. But still considering the speculations one should consistently look after the markets Ups and Downs. Also, follow the news relating to the same to stay updated with the market.