New Delhi. The share price of Indian Railway Catering and Tourism Corporation (IRCTC) reached a new record of Rs 3,587 on Tuesday. The PSU stock of Indian Railways opened with a gain of Rs 51.25 today and gained about 4.5 percent during early trade. The company’s stock is likely to rise further as the market is seeing a lot of potential regarding the company’s expansion in the hospitality sector and asset monetization of Railways.
Know what is the reason
IRCTC now plans to expand its hospitality business by partnering with hotels, tour and travel service providers and food suppliers. It is also emphasizing on food chain business in moving trains. It has also joined hands with some aviation companies. With this, in the coming years, it will not only remain an e-ticket booking platform for the Railways, but can also become a major hospitality service company. Experts say that the company has successfully run private trains and it will also benefit from the creation of a world class lounge at New Delhi railway station.
Share price may go up to Rs 5,100
The stock of the company has gained more than 100 percent this year. It has crossed the huge level of Rs 3,000. The fall in this stock due to Corona was a good opportunity for investors to include it in their portfolio. Experts say that there are positive signs for the stock of the company and it can go up to Rs 4,000 in the mid-term and Rs 5,100 in the long-term.