IRCTC share price hits 52-week high. Experts see more upside

According to stock market experts, IRCTC shares provide an opportunity for long term investors. Its diversification in business and numerous new train launches are going to benefit the company and its business model in long term. Apart from this, the stock has remained under performer despite big rally in Indian Railway shares.

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Giving ‘portfolio stock’ tag to IRCTC shares, Anirudh Garg, Founder & Fund Manager at Invasset said, “IRCTC shares present a compelling opportunity for long-term investors, given the company’s dominant position in the online ticket booking sector. As a public sector undertaking (PSU), IRCTC is strategically diversifying its operations into hospitality, online catering, and various other businesses.”

Anirudh Garg went on to add that IRCTC’s ambitious plan to introduce numerous new trains over the next four to five years is anticipated to yield substantial benefits for its current shareholders. He went on to add that IRCTC is swiftly regaining momentum in its core online railway ticket booking business. Investors are optimistic about the company’s future prospects, especially with the upcoming Lok Sabha elections expected to keep PSU stocks in the spotlight. As the economic landscape evolves, IRCTC may serve as a key player in the resurgence of the railway and hospitality sectors.

IRCTC share price target

Advising IRCTC shareholders to hold the scrip, Sumeet Bagadia, Executive Director at Choice Broking said, “IRCTC share price is looking strong on chart pattern. The stock is expected to continue its uptrend and can go up to ₹850 apiece levels once it breaches ₹800 hurdle decisively. IRCTC shareholders can hold the stock for ₹850 target but they should update their trailing stop loss at ₹775 per share levels.”

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“For those who want to make a fresh investment in IRCTC shares, they are advised to buy around ₹790 to ₹785 apice levels for near term target of ₹850. However, they must maintain stop loss at ₹775 while taking any fresh position,” Bagadia said.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decision.

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Published: 14 Dec 2023, 12:37 PM IST