IRCTC’s share price is being spiked up consistently these days. The main reason behind the rise in IRCTC share is the increase in railway ticket bookings. As per a survey conducted IRCTC has recorded 100% bookings from July to September 2021. As per the market experts, one who has this stock in their portfolio should need to hold the counter for maintaining the trailing stop loss at Rs. 4950.
Indian Railway Catering and Tourism Corporation recently have breached the psychological Rs. 5000 levels recently and is currently lying at the peak with the share price of Rs. 5,398. Every new day is bringing up new additions into the share price and that is the main reason the new peak is climbing consistently.
If we go with the stock market experts, the IRCTC share will hit the level of Rs. 5800 in the immediate short term. As we know, the IRCTC booking from July to September 2021 has almost doubled, which has boosted up the share pricing as well.
IRCTC currently has the monopoly business in online train ticket bookings and the company is also serving in the hospitality segment which further has fielded up the IRCTC stock price to a great extent.
As per the records, IRCTC has aggressively started focusing on the hospitality business these days. Different fresh tie-ups have been made with different hotels, travel and tour service providers and new contacts have been established with the local food suppliers as well so that they could provide the best services to the travelers. IRCTC recently has started giving special focus to its doof chain business running in trains. IRCTC has not remained an Indian Railways’ e-ticket booking platform but also has been known for providing A to Z hospitality services as well.