IRCTC stock price hits 52-week high: TARGET ACHIEVED! Analyst suggests HOLD for existing investors, says THIS about taking fresh positions

Indian Railway Stocks – IRCTC shares – The shares of IRCTC today hit a 52-week high of Rs 3040 on the NSE on the intraday basis while finally settling at Rs 3020. The stock prices saw a jump of Rs 150 or almost 5.2 per cent from the last closing price of Friday. 

In the process, the stock achieved a target price of Rs 3000, which was recommended by analyst Nilesh Jain. This stock was recommended by him at a price of Rs Rs 2564.90. The existing investors must now hold on to this stock, Jain said adding that it is now poised well to achieve the next target price of Rs 3200. He puts a trailing stop loss at Rs 2800. He has a 1-2 month view on this stock. 

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The intraday low for this stock was 2,879.15 

His advice is to not make a fresh move in this stock and the investors must wait for some correction from here to make fresh positions.  

After seeing a significant correction on 20 August 2021, the IRCTC stock has managed to largely trade in a positive zone barring a couple of occasion.   

IRCTC Share Price History - The 52-week low for this stock is 1,290.05 which the stock hit on 4 November 2020.

Over 5 million shares traded on the NSE on Monday with the traded value at over Rs 1512 cr.

In its filing to exchanges, IRCTC has informed about its 22nd Annual General Meeting (AGM) that is scheduled on 29 September. Among other important issues, the company will be considering sub-division of its equity shares of face vaule of Rs 10 into five equity shares with face value of Rs 2 each. 

The announcement on this regard was previously made by the IRCTC. 

IRCTC or Indian Railway Catering and Tourism Corporation Ltd is a Government of India enterprise.