IRCTC’s Share Price Bounces Back, Prompting Investors to Consider Buying, Selling, or Waiting After a recent dip in IRCTC’s stock price, investors are closely monitoring its current trading price of ₹780.95 per share. With positive market indicators and the company’s plans for expansion, analysts believe this may be a compelling opportunity for long-term investors. As pandemic restrictions ease, IRCTC is regaining momentum in its core online railway ticket booking business, making it an attractive prospect for those considering buying, selling, or waiting.
In recent news, the stock price of Indian Railway Catering and Tourism Corporation (IRCTC) experienced a slight decrease of -1.23% on 18th December 2023. The day ended with the stock closing at ₹790.7 per share. As of now, the stock is trading at ₹780.95 per share.
If you are an investor, it would be wise to keep a close eye on IRCTC’s stock price in the upcoming days and weeks to better gauge its performance. On the 18th, the stock opened at ₹795.1 and closed at ₹790.7. During the day, it reached a high of ₹796.95 and a low of ₹779.8.
IRCTC currently boasts a market capitalization of ₹62,476.0 crore. Its 52-week high stands at ₹800, while its 52-week low is ₹557.15. On the Bombay Stock Exchange, a total of 117,663 shares of IRCTC were traded on the mentioned date.
Looking at the recent trading activity, the stock closed at ₹790.7, with a trading volume of 117,663 shares. On Monday, IRCTC shares opened higher at ₹750.65 and hit an intraday high of ₹766.55. It was trading in the green at ₹760, reflecting a nearly 2 percent increase.
Many analysts believe that IRCTC shares offer an enticing opportunity for long-term investors. The company’s plan to introduce new trains in the future is expected to be beneficial for shareholders. Despite the challenges posed by the pandemic, IRCTC has expanded its offerings into additional segments such as online air and bus ticket bookings, hotels, and hospitality services.
As pandemic-related restrictions ease, IRCTC is regaining momentum in its core business of online railway ticket bookings. Sumeet Bagadia, the Executive Director at Choice Broking, predicts that IRCTC shares could potentially reach ₹800 per share in the near term, with a possibility of going up to ₹850 per share in the short term.
Investors should weigh these factors and keep a keen eye on IRCTC’s stock performance to make informed decisions.