logo
logo
Sign in

Why IRCTC is Rallying and What To Do Now?

avatar
Swastika Investmart
Why IRCTC is Rallying and What To Do Now?
The Indian Railway Catering and Tourism Corporation (IRCTC) is a Miniratna PSU Owned by Govt. of India through Indian Railways.
 
It is the only authorized entity to provide certain services to the Indian Railways, including online ticketing, catering, and selling drinking water on trains and at railway stations.
 
IRCTC shares rallied from 2000 to 4900 level in just four-month. It has been climbing sharply on the stock market, scaling new highs in the stock is now a regular phenomenon.
 
Reopening of economic activities & pickup in demand in tourism sector also reaching to their pre covid level boost up the stock price.
 
Technically IRCTC has given breakout after consolidation above 4000 and forming higher high and higher low chart formation which is bullish in nature.
 
Business Model of IRCTC
 
Catering
Internet Ticketing
Packaged Drinking Water
Travel & Tourism
State Teertha
 
What to do next?
 
As IRCTC stock has already rallied a lot from its SME-IPO Price (Issue 315-320), Stock may gain further due to its Monopoly Business Model.  IRCTC also aggressively expands in the hospitality business will take the stock to a new high in the upcoming years.
 
So, Long Term investors can buy on dip around level 4000-4100 for 6000+ Target.
 
Try Swastika Investmart to manage your wealth profile. Open demat account with Swastika and enjoy stock trading services in a hassle freeway.
 
Contact us to learn more.
collect
0
avatar
Swastika Investmart
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more