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
- 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.