IRCTC is the Indian Railway company providing ticketing, catering, and tourism services. In this article, we will do a technical analysis of IRCTC share price target for upcoming years.
IRCTC company details
IRCTC stands for Indian Railway Catering and Tourism Corporation. The organization is a wholly owned subsidiary of Indian Railways, Ministry of Railways, Government of India. It offers multiple services like ticketing, tourism, and catering for the Indian railways. The organization was established on September 1999 as a public-sector undertaking. In 2008, the organization was classed as a Miniratna Public Corporation which provided a certain degree of financial authority.
IRCTC share was listed on the National Stock Exchange in 2019. Thereafter, the Government of India reduced its stake to 87% and the rest of the shares were traded publicly. Furthermore, da government reduced the stake to 67% by divesting another 20%. The revenue reported by the company in the fiscal year 2020 was Rs 2,353.53 crores and the net income was Rs 528.57 crores.
IRCTC Stock Price Technical Analysis
The current IRCTC share price is Rs 763.90. The stock touched a maximum value of Rs 1273 in October 2021. The maximum value is estimated based on the split of stock 1:5 in November 2021.
IRCTC’s share price has been consolidating between the two horizontal lines for the last year. Currently, the price is lying exactly at the center of the horizontal lines. Aggressive buyers can enter into the trade at the current price. You can also wait for the price to break the upper horizontal line. It will be the point where the IRCTC share price will break the consolidation area and expect to increase.
The Conservative buyers can wait for the price to come between Rs 650 and Rs 700. IRCTC’s share price is expected to increase in the coming few years.
The company declared a dividend of Rs 1.50 in August 2022, Rs 2 in February 2022, Rs 5 in September 2022, Rs 2.50, and Rs 10 on February 2020.
IRCTC share price target
IRCTC share price target for 2023 is between Rs 1,800 to Rs 1,850, for 2024 is between Rs 2,000 to Rs 2,250, for 2025 is between Rs 2,500 to Rs 2,680, 2030 is between Rs 6,000 to Rs 6,600.
|Rs 1,800 to Rs 1,850
|Rs 2,000 to Rs 2,250
|Rs 2,500 to Rs 2,680
|Rs 6,000 to Rs 6,600
Many factors play a key role in estimating the IRCTC share price target. The first is the revival of the economy after the pandemic. The hospitality industry is expected to grow again with the decrease in the covid-19 cases.
IRCTC is likely to diversify the services in numerous railway stations where they are not currently providing the services. It is expected that the company will experience a growth in revenue by 3 to 4 times.
The government is also likely to declare numerous projects for the development of railway infrastructure. Since the company has a monopoly in the industry because it is owned by the government and there is no other private player. However, the privatization of the Indian railways is already in process and it is expected that the condition of Indian railways will improve.
IRCTC share is a growth-oriented share and it is expected that the company will earn revenue as more and more people will begin to use railway services. Investment in IRCTC shares can give huge returns if you keep the money invested for a long duration.
Disclaimer: If you want to invest in the stock market, you should consult your financial advisor before making a buying decision. You should assess the risk and study the company details.
Frequently asked questions
Is IRCTC best for long-term investment?
Yes IRCTC can give good returns in long-term investment
What is the target of IRCTC?
The target for 2023 is between Rs 1,800 to Rs 1,850, for 2024 is between Rs 2,000 to Rs 2,250, for 2025 is between Rs 2,500 and Rs 2,680, 2030 is between Rs 6,000 and Rs 6,600.
Is IRCTC good to buy now?
Yes, IRCTC is good to buy in the existing zone shown in the price charts
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