Profit booking on IRCTC OFS - Angel Broking

Mr. Yash Gupta - Equity Research Associate, Angel Broking Ltd

We Recommend to book profit in IRCTC OFS. Retail investors get shares at cutoff price or bid price whichever is higher on Wednesday in their d-mate account. Total OFS size was 20% of paid up share capital with cut off price of 1377.55. After the OFS promoter holding now at 67.4% and public holding at 32.6%. After the OFS free float in stock has increased significantly as 20% of paid up share capital has been off load in the market. We recommend short term investors to book profit of 4.5% at CMP of 1433 and Long term investors can hold stock as we remain positive on the long term prospects of the company given the monopolistic nature of the business and strong growth expected post FY2021.

Source : Equity Bulls

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