- Sensex crashes for two days but Paras Defense shares cross Rs 1,000
- Shares of Paras Defense closed at Rs 1,089.40 on Thursday
- The stock has doubled to Rs 498.75 or 101 per cent in the last 12 days
Since the listing, the shares of Paras Defense have been steadily rising. It had fallen marginally in two days but has gained 101 per cent in the last 12 days. The BSE hit an upper circuit of 10 per cent on Wednesday and touched 1,003. The market also declined on Wednesday but Paras Defense shares continued to rise.
In the last 12 days, the stock has doubled to Rs 498.75 or 101 per cent. Overall its issue price was Rs 175 per share. It was listed on October 1 at Rs 492.45 per share. Thus, the shares of Paras Defense have enriched their investors from day one.
What to do in IRCTC shares?
There is a sharp decline in the shares of IRCTC at this time. In just two days, investors have sunk Rs 30,000 crore. Gurmeet Chadhani, Co-Founder, Complete Circle Consultants explains what to do in these stocks. On the part of IRCTC, he said that the rewrite started on getting involved with new age platforms. To take a look at the stats, last year it booked around 175 million tickets, resulting in a revenue of around Rs 300 crore from service charges. Then there is advertising revenue and revenue from commission on food products, which has also been increased and so is the expansion of Railway Neer. All these sections are continuously growing and it is currently operating around 1500 odd trains. It has around 250-260 pantry cars out of 400. As more trains run, revenue will increase, but the valuation it is getting is for the entire platform player, not just three or four businesses.
That is, a new era of business is being given importance. The main thing to keep in mind here is how their payment gateway iPay converts. Can it be used for other PSU business also? As it grows, we will have to see if it is able to cross-sell web traffic. It is the most traded website in Asia Pacific. If so, then these assessments can be justified. However, these valuations can be a bit risky if not implemented.