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IRCTC shares gain over 4% on data monetisation plans

IRCTC shares gain over 4% on data monetisation plans

IRCTC shares gain over 4% on data monetisation plans
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By CNBCTV18.com Aug 19, 2022 2:37 PM IST (Updated)

These digital assets mentioned in the tender include rail ticketing data, user base and passenger travel-related transactions. The IRCTC is aiming for additional revenue generation through monetising its digital assets.

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) climbed over 4 percent after the company floated a tender to hire a consultant to monetise digital assets on August 18.

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At 12:46 pm shares of IRCTC were trading at Rs 748, an up of 4.8 percent from the previous close on the BSE.
These digital assets mentioned in the tender include rail ticketing data, user base and passenger travel-related transactions. The IRCTC is aiming for additional revenue generation through monetising its digital assets.
The shares also became trade ex-dividend yesterday, August 18, after the Indian Railways' PSU has fixed 19th August 2022 as the record date to finalise eligible shareholders for the final dividend payment financial year 2022.
“The company has fixed Friday, August 19, 2022, as the ‘Record Date’ for determining entitlement of members to final dividend for the financial year ended March 31, 2022, if approved at the AGM," IRCTC said in a regulatory filing.
Shares of IRCTC were trading at Rs 675.8, up 0.85 percent from the previous close on the BSE. The stock has been gaining for the last three days and has risen 1.43 percent in the period.
For the fiscal year 2021–2022, the board of directors of IRCTC has already approved a final dividend of Rs 1.50 per equity share. The interim dividend of Rs 2 per equity share, announced in February 2022, is in addition to the final dividend of 1.5 per equity share. The dividend is subject to approval during the Annual General Meeting (AGM).
With that IRCTC has also issued a tender to monetise rail ticketing data passenger data shall be provided by IRCTC could be a booster to profits, as reported by CNBC Awaaz.
What is an ex-dividend?
Ex-dividend refers to a stock that trades without the value of the next dividend payment. A stock is ex-dividend if it trades on or after the ex-dividend date. If you buy a stock after it has gone ex-dividend, you will own the stock but will not get the next dividend payment for that stock. Instead, the payment will go to the person who sold you the stock.
For example, if a company with a share of Rs 335 rupees declares a dividend of Rs 5, on the ex-dividend date, the share price may fall to Rs 330, as the company no longer has these Rs 5. Typically, the ex-dividend date for a stock is one business day before the record date.
Ticketing business sees slump
Indian Railways' ticketing arm reported a slump of 820 basis points in its quarterly margin compared with the corresponding period a year ago. IRCTC reported a net profit of Rs 248.5 crore for the quarter ended June 2022, nearly three times more compared with the year-ago period.
The share of revenue from its internet ticketing unit came down to 35.4 percent for the April-June period from 42.3 percent in the previous three months.
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