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    IRCTC shares rise 1.6 per cent in Wednesday's trading session

    Synopsis

    The Relative Strength Index of the stock stood at 67.46 on Wednesday.

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    Agarwal said the global economy is showing clear signs of recovery. The second wave of Covid-19 is ebbing in India with total active cases at less than 20 per cent of May highs.
    Shares of Indian Railway Catering & Tourism Corporation Ltd. rose 1.6 per cent to Rs 653.1 in Wednesday's trade as of 10:31AM (IST) even as the benchmark Nifty ruled at 18664.45, up 65.45 points.

    The scrip had closed at Rs 642.8 in the previous session. The stock quoted a 52-week low of Rs 557.0 and a high of Rs 775.0. The company quoted a market-cap of Rs 51424.0 crore on the BSE.

    On BSE, 29,179 shares have changed hands on the counter so far. At its prevailing price, the stock traded at 51.12 times its trailing 12-month EPS of Rs 12.57 per share and 18.5 times its book value. The return on equity (ROE) stood at Rs 40.58.

    Key Financials
    For the quarter ended 31-Mar-2023, Indian Railway Catering & Tourism Corporation Ltd. reported consolidated sales of Rs 1004.28 crore, up 40.11 per cent from the same quarter a year ago. The company reported 30.41 per cent YoY growth in net profit at Rs 278.8 crore for the latest quarter.

    Technical indicators
    The relative strength index (RSI) of the stock stood at Wednesday. The RSI oscillates between zero and 100. Traditionally, it is considered overbought condition when the RSI value is above 70 and oversold when it is below 30.

    Analysts say the RSI indicator should not be seen in isolation, as it may not be sufficient to take a trading call, just the way a fundamental analyst cannot give a "buy" or "sell" recommendation using a single valuation ratio.
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