Stocks to Buy - IRCTC ends in green on Tuesday; Know why Zee Business Managing Editor Anil Singhvi is bullish on this stock

Stocks to Buy - IRCTC - Amid some corrections over the last week, IRCTC shares ended flat today. The stock traded in the range between Rs 1740 and 1780 in the week gone by. IRCTC or Indian Railway Catering and Tourism Corporation works under the aegis of the Ministry of Railways.  

The IRCTC stock was listed in 2019 after its Initial Public Offering (IPO) was launched at an issue price of 320. The stock breached Rs 2,000-mark per share for the first time in February 2020, within months of its listing.  

The 52-week high of IRCTC stock is Rs 2072. The stock has been seeing steady gains, coming closed to its lifetime high of Rs 2072 on 9 March 2021.  

Various stock market experts have been revising IRCTC’s share price target including the Market Guru himself. The Managing Editor has estimated the target price around Rs 2500 in one of his shows remaining bullish on it. While the company is into a monopoly e-ticketing business, the fundamentals of IRCTC remain strong, Singhvi had said.  

The IRCTC accounts for over 92 per cent of the online Indian Railways e-ticket booking business. Besides, it has received higher advertisement revenue as well.   

During the last trading session of the previous week, it closed at Rs 1747 on the NSE. On Tuesday, the IRCTC stock opened at Rs 1757 per share and traded between Rs 1750 and 1760 per share on an intraday basis. The markets were closed on Monday on account of Holi.