Shares of IRCTC declined for the third straight day on Tuesday after the stock cooled off from the day's high. Shares have now declined 15 percent on a year-to-date basis.
Sources within the dealing rooms tell CNBC-TV18 that the stock is under pressure due to fears of a government stake sale through a possible Offer For Sale (OFS) that may take place in the stock.
As of the September quarter shareholding pattern, the government held 67.4 percent stake in IRCTC.
Third Day of Drop
With markets consolidating in a narrow range, flows were mixed at the FII desk with selling see in large caps while midcaps witnessed some buying.
Volumes for the session are likely to be higher as a market-at-close basket was active at a leading FII desk.
Cement stocks also outperformed on Tuesday's session on hopes of strong demand and price hikes.
Besides IRCTC, here are some other stocks that have been part of the dealing room chatter today:
Coal India: Shares of the state-run miner ended higher for the third straight day and has now gained in four out of the last five trading sessions. However, the stock has remained in a narrow range during these five trading sessions. Dealers indicate that there was some market-at-close basket buying in the stock at a leading FII desk.
Pricol: Shares ended higher on Tuesday after a three day drop, gaining over 4 percent. The stock also closed at the highest level in over a month. Dealers suggest that the street is anticipating a potential corporate development in the stock soon.
Craftsman Automation: Shares ended higher for the fourth straight day, ending at the highest level in nearly a month. 5 percent equity of the company exchanged hands in large trades, according to data available. Buyers and sellers were not immediately known. However, dealing room sources said a leading private equity player was the seller in this transaction while a leading Alternative Investment Fund (AIF) was the buyer.