Indian Railways Stocks – IRCTC, IRCON, RITES shares– BUY or NOT to BUY? When to buy? Analyst recommends this – take a look

Indian Railways Stocks – IRCTC, IRCON, RITES – If you are an investor in these stocks or one of these stocks then you must know what prospects these stocks hold in the near to medium term view. Nilesh Jain, Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking, gives some useful insights about these stocks and also what investors must do with these stocks. 

IRCTC share price – The shares of IRCTC ended at Rs 2564.90 on the NSE, down by almost 3 per cent on Monday. For long term investors, he said that the positions should be held on to. He expected some profit booking over the short-term period. He puts the target price at Rs 3000 in the positional term period. There is a strong support at Rs 2300, he said. The next support is at Rs 2260. The immediate support is at Rs 2400. 

Any fresh position should be made below Rs 2500, he further said.  

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IRCON International share price – Jain said that all investors must avoid this stock if they are considering any new positions in this stock. Commenting on the basis of the technical analysis, Jain said that the chart does not show strong positioning of this counter. It has been forming lower tops and lower bottoms, he further said. Ircon International or Indian Railway Construction Limited is under the ownership of Indian Railways, Ministry of Railways. 

The stock today ended at Rs 40.65 on the NSE, down by almost 2.6 per cent. He said that no long position till the stock achieves levels around Rs 44. In case, if any investor still wants to take a contra-bet, the right levels to enter in this stock is between Rs 38 – Rs 36. But it is advisable not to make any fresh move, Jain reiterated. 

RITES share price - Rail India Technical and Economic Service Limited, abbreviated as RITES Limited, is under the ownership of Indian Railways, Ministry of Railways, Government of India. The shares of RITES Limited today ended at Rs 255.35 on the NSE, down by 1.2 per cent. He said that this stock looks comparatively better from both IRCTC and RITES. He expects a pull back in the stock at existing levels. It has managed to run at 200-day moving average which is around Rs 260. 

His advice to existing investors is to hold on to this stock. Those looking to make a fresh move can also buy now or also on dips, Jain said. He puts the stop loss at Rs 235. The target price is Rs 280 - Rs 290.