IRCTC Share Price Target 2021: Experts predict 50 pct rise on budget 2021 infra push, give 'money making shares to buy' tag; should you buy?

IRCTC Share Price Target: On account of COVID-19 unlock fueling Indian Railway Catering and Tourism Corporation (IRCTC) business in FY 2021-22 and speculations about Finance Minister Nirmala Sitharaman announcing big in rail infra sector, the IRCTC is expected to get more moolah in the coming financial year. This rise in the IRCTC business will definitely get reflected in the IRCTC share price performance at Indian bourses. According to stock market experts, IRCTC shares that are currently trading in the Rs 1,400 to Rs 1,600 range for a few days, may become highly bullish post-budget and in long-term may go up to Rs 2,200 per stock mark.

Speaking on the Union Budget 2021 helping IRCTC share price Avinash Gorakshkar,  Head of Research at Profitmart Securities said, "FM Nirmala Sitharaman is expected to announce some major booster for the rail infrastructure sector. Because of that, the IRCTC being the leader in its monopoly business (online Indian Railways ticket booking) plus some other business like bottled water, etc. would certainly gain in terms of rise in its business. Apart from this, the FM will surely announce some new private trains like two more Tejas Express is always in the public domain, then it will also help IRCTC gain more business."

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On COID-19 unlock helping IRCTC gain business momentum Girakshkar said, "Due to the COVID-19 lockdown, like any other company, IRCTC too had to lose a good chunk of business but after the unlock, it is gaining momentum. If I talk in long-term perspective, domestic investors are themselves enough to fuel IRCTC stock price target upto Rs 1,800. however, if the FIIs chip in then it may go up to Rs 2,000 per share mark."

Also Read: LIVE Budget 2021 - What FM Nirmala Sitharaman said | Full coverage and highlights here

Giving technical details of the IRCTC shares; SEBI registered technical equity analyst Simi Bhaumik said, "I am highly bullish on IRCTC and would suggest stock market investors to hold if they have this stock in their Demat Account. For fresh investors, my suggestion is to buy IRCTC at around Rs 1,400 maintaining the stop loss below Rs 1,350 for the long-term target of Rs 2,000 to Rs 2,200." She said that IRCTC share price target is for both 2021 and 2022.