By Malvika Gurung

Investing.com — Trading at Rs 6,260.65 apiece at 11:20 am on Tuesday, the share price of the e-ticket booking platform for Indian Railways, IRCTC (NS:) climbed up by over 6.5% during the mid-day hours.

The Indian government-owned subsidiary has joined the elite Rs 1 trillion market capitalization club as its share prices have skyrocketed by record numbers of over 300% for the ongoing year, with its m-cap at Rs 1.01 trillion.

This feat makes IRCTC the ninth public sector undertaking to have made its way in the Rs 1 trillion m-cap club in India, after SBI (NS:), Coal India (NS:), NMDC Ltd (NS:), Indian Oil (NS:) Corp. Ltd, Power Grid (NS:) Corp. Ltd, SBI Life Insurance Company Ltd (NS:), Bharat Petroleum (NS:) Corp., and SBI Cards and Payment Services Ltd (NS:).

With its official listing on exchanges in October 2019 priced at Rs 320 a (share) piece, IRCTC’s stocks have rallied by 1,737%, which is more than 18 times its launch price.

Considering its price spike only for the ongoing year, the figure marks a gain of 308.1%, and its monthly gain for September 2021 lies at 58%.

With the vaccination drive proceeding in full throttle and active Covid-19 cases reducing across the country, paired up with the economy and travel recoveries coming strong, IRCTC’s progress is set to gain further momentum, state analysts.

The vice president, advisory of Marwadi Financial Services, Akhil Rathi adds, “Internet ticketing saw a jump in Q1 due to the low base last year; we expect this segment will grow substantially higher in the second quarter at about 50% compared with Q1. Also, the number of trains will increase which will increase the revenue for Rail Neer and Catering services.”