The primary reason for the fall in IRCTC share price is due to a ban on IRCTC stock from the NSE futures and options (F&O) list. 

Stock split  increase liquidity by making the share more affordable to retail investors. 

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IRCTC got listed on the stock market on 14 October 2019 at the price of Rs. 320 per share. Since then, its share price has increased to 1737 per cent or 18 fold.