First on Zee Biz: Government ready with Rs 1.52 lk cr asset monetisation roadmap for railways; IRCTC and IRCON shares surge - Check details here

First on Zee Business: Days after the launch of the National Monetisation Pipeline, Zee Business Special Correspondent Chetan Bhutani reveals that the government is ready with the Rs 1.52 lakh crore asset monetisation roadmap for railways while speaking to Managing Editor Anil Singhvi on Wednesday.

“The government has decided to monetise 90 passenger trains,1400 kilometer railway track.” He points out this positive news for IRCTC (Indian Railway Catering and Tourism Corporation) investors, Bhutani said.

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IRCON (Indian Railway Construction Company) investors are also likely to benefit from this, Bhutani said as the government will monetise 400 railway stations and 265 railways’ goods shed. 

He added, the monetisation of railway stations would happen phase-wise, as this year 44 railway stations will be monetised and in the next three years 120 stations, each year, will be monetised.

FIRST ON ZEE BUSINESS

IRCTC और IRCON इंटरनेशनल के लिए Good News...

रेलवे का ₹1.52 लाख करोड़ का एसेट मोनेटाइजेशन का रोडमैप तैयार...

खबर को विस्तार से जानने के लिए देखिए ये वीडियो#IRCTC #IndianRailways #IRCON @AnilSinghvi_ @BhutaniChetan pic.twitter.com/QhFFxabv0h

— Zee Business (@ZeeBusiness) August 25, 2021

Government, in order to monetise railways assets, will set up the Indian Railway Stations Development Corporation (IRSDC), which will be a joint venture between IRCON and RLDA (Railways Land Development Authority).

The shares of IRCTC on Wednesday ended around 3 per cent higher to Rs 2637 per share on the BSE, as compared to flat S&P BSE Sensex. Kunal Saraogi, a Zee Business analyst, expects the stock to grown to Rs 3000 per share level once it breaches the Rs 2700 apiece mark. 

Saraogi has a big conviction on the IRCTC share and mentions the stock looks pretty good on the charts. He sees an upside of Rs 80-90 and urges investors to Hold this counter for a target of Rs 2700 per share with a stop loss of Rs 2570 per share.

Similarly, IRCON shares surged 8 per cent to Rs 43.7 per share on the BSE at the market close. Another Zee Business analyst Rakesh Bansal said, the counter has not run for a longer time and there has always been a rebound in the scrip.

However, there is an indication of the rally in the stock, Bansal says adding further, it would surge to Rs 48-49 apiece as first target and Rs 51-52 a share as second target with a stop loss of Rs 40 a share.