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IRCTC share price rises 1155% from issue price to over 4000 rupees – see why analysts are skeptical of this counter

Indian Railway Catering and Tourism Corporation (IRCTC) shares, which have skyrocketed since the start of the September series, hit a record high of 4017 rupees per share after rising more than 6.5% in BSE intraday trading on Friday. Did. A large amount.

Shares in September alone rose 46.5%, but jumped more than 1155% from the issue price of Rs 320 per share. It has skyrocketed 17% in the last four sessions.

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The continued surge in public sector unit stock has made almost all analysts skeptical. The majority of them say the counters are overrated, and even from a technical point of view, scrips look ridiculous. However, they expect huge profits from this stock in the long run.

TradeSwift director and Zee Business analyst Sandeep Jain cites IRCTC stocks as good stocks, stating that as travel around the country normalizes, stock surges are primarily driven by unlocking themes. .. Feel it is a PSU.

Taking advantage of the monopoly, Jain states that IRCTC is a new economic business and other great stocks such as MakeMyTrip and EasyTrip are also in this segment. These shares also have great potential. However, prices have not skyrocketed like IRCTC, probably because IRCTC enjoys monopoly.

This scrip is being performed beyond analysts’ expectations, as analysts did not expect the share price to exceed Rs 3,500 per share so quickly. He proposes to investors to hold shares and buy new ones with a dip.

Similarly, another market analyst, Simi Bhaumik, said the share price was above expectations, growing to Rs 5,000 per share by December 2021 and reaching Rs 10,000 per share in the next few years. I think that. She even believes that the story of stock monopoly and unlocking is working well while stocks so far have achieved all their goals.

On the technical side, market analyst Sacchitanad Utteker said stock prices are growing too much on the price chart and are not optimistic. Uttekar is amazed at the 20% inventory surge over the past. He thinks he needs to be very careful given that there are technical zones where stocks are currently traded.



IRCTC share price rises 1155% from issue price to over 4000 rupees – see why analysts are skeptical of this counter

Source link IRCTC share price rises 1155% from issue price to over 4000 rupees – see why analysts are skeptical of this counter

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