The amazing run of IRCTC ended with a 15% fall in just 30 mins today.
With the market cap touching ₹1 Lac Cr mid-day and with a P/E ratio of 530x, the fall was inevitable. Throughout the recent up move, the delivery volumes were also lower than average indicating weakness.
Mutual Funds exited/sold around 40 lac shares of IRCTC during the months of August and September.
For more details on what is happening in IRCTC, have a look at this video.