IRCTC Share Price Shows Rebound After Retracing From 52-Week High: Buy, Sell, or Wait?

IRCTC’s stock opened higher at ₹750.65 on Monday, recovering from the Friday closing price of ₹749.55. Although the stock retracted from its 52-week high of ₹769.85 during the last session, it showed resilience by starting higher at ₹750.95 and touching an intraday high of ₹766.55. Analysts suggest that the breakout at ₹760 on Friday indicates an uptrend, projecting a potential breach of the current 52-week high and a rise to ₹800 per share in the near term. Further upside to ₹850 may follow upon surpassing the ₹800 level. Experts recommend the stock as a ‘buy,’ noting its divergence from the recent bullish trend in PSU stocks and signaling the potential start of a new rally in the Indian Railways’ PSU stock.

Triggers for IRCTC Share Price

Anirudh Garg, Founder & Fund Manager at Invasset, sees a compelling opportunity for long-term investors in IRCTC, given its dominant position in online ticket booking. As a PSU, IRCTC strategically diversifies into hospitality and online catering. The company’s plan to introduce new trains in the next four to five years is expected to benefit shareholders. Despite recent bullish trends in the PSU stock market, IRCTC hasn’t matched its counterparts’ robust performance, making it an attractive choice for diversified portfolios. The company adapted its business model during the COVID-19 pandemic, expanding into online air and bus ticket bookings, hotels, and hospitality services. With pandemic-related restrictions easing, IRCTC is regaining momentum in its core business.

IRCTC Share Price Target

Sumeet Bagadia, Executive Director at Choice Broking, notes the technical breakout at ₹760 and believes the stock is in an uptrend, projecting a move to ₹800 per share in the near term. Breaking ₹800 could lead to ₹850. Bagadia recommends maintaining a stop loss at ₹730 for existing shareholders and suggests fresh investors can buy at current levels with a stop loss at ₹730.”