IRCTC share price may double in next two years as street is highly bullish on IRCTC's strong focus on hospitality and private train business, say stock market experts.
IRCTC share price today climbed new lifetime peak of ?2,765.40 per equity share. IRCTC shares today opened with an upside gap of ?3 at ?2,755 and hit an intraday high of ?2,765.40 its new lifetime high. However, profit-booking triggered and the stock came down at ?2,723 (at 11:13 AM at NSE) logging around 1 per cent loss from its Tuesday close price of ?2752. According to stock market experts, IRCTC share price may double in next two years as street is highly bullish on IRCTC's strong focus on hospitality and private train business.
Expecting further rise in IRCTC share price; Ravi Singhal, Vice Chairman at GCL securities said, "Major reason for IRCTC share price hitting lifetime high on a regular basis is its aggressive focus on the hospitality business. On one hand it is tying up with hotels, aviation and surface transport service providers while on the other hand it is strengthening its food supply business through tie-ups with local supplier. Market is sniffing its aim to provide A-Z solution in near future while offering tour and travel packages. Other reason for markets being bullish on IRCTC share price is government's focus on running private trains. Since, IRCTC is a tried and tested player in running a private train; it is going to emerge major beneficiary of this government planning."
Ravi Singhal of GCL Securities went on to add that in coming times, IRCTC will not just be an e-ticket platform. It will be in running trains, providing A-Z hospitality solution creating new and strong avenue for revenue in tour and travel business. It is also having a strong focus on the food supply business in a running train by replicating the business model of Zomato, Swiggy, etc.
Advising investors to buy IRCTC shares; Sumeet Bagadia, Executive Director at Choice Broking said, "One can buy and hold the counter for short-term target of ?3000 maintaining stop loss below ?2500. One should keep on accumulating this stock till it is above ?2600."
On medium to long-term IRCTC share price target; Ravi Singhal of GCL Securities said, "IRCTC share price may go up to ?3200 per equity share levels in 6 to 9 months while in next 18 to 24 months, I am expecting IRCTC stock to hit ?5000 per stock levels."