Surge in Railway Stocks: IRCTC and IRFC Hit New Highs, Experts Predict Further Gains
The Indian railway industry experienced significant purchasing interest on Monday, which resulted in two well-known equities, Indian Railway Finance Corp. (IRFC) and Indian Railway Catering and Tourism Corporation (IRCTC), reaching record highs. Market experts are now predicting probable gains in the near future as a result of these optimistic developments.
On the NSE, IRFC soars to ₹66.40
The IRFC share price commenced with an upside gap and surged to a record high of ₹66.40 on the National Stock Exchange (NSE) as the morning’s trading session got underway. This increase highlights the excitement among investors for the railroad finance titan.
Shares of IRCTC increased to ₹704
IRCTC also went through a similar upswing at the same time, opening through an upside gap and reaching an intraday high of ₹704.25 per share on the NSE. The morning trade saw a 2% increase in this upward trend, confirming investors’ favorable perception of the railway catering and tourism organizations.
The price of IRCTC shares recently demonstrated a breakout at levels of ₹675 a share, indicating a rising trend. According to Sumeet Bagadia, Executive Director at Choice Broking, this suggests the likelihood that the stock will continue to rise, with short-term targets of ₹725 and ₹750 each.
Investors in IRFC are recommended to hold the stock and set a stop loss at a price of ₹61 per share, according to IRFC guidance. In line with Chandan Taparia’s predictions, the stock could rise as high as ₹72 per share in the near future.
The recommendation for Rail Vikas Nigam Limited (RVNL) stockholders was to hold the stock until IRFC and IRCTC took center stage. Chandan Taparia recommended setting a target price of 160 per share and keeping a stop loss at 148. This means that RVNL has an exciting prospect ahead of it.
Railway Stocks Seems To Have a Bright Future!
In conclusion, investors and experts alike are optimistic as a result of the strong performance of railway stocks on Monday, particularly IRFC and IRCTC. Investors and market enthusiasts will surely keep a close eye on the railway industry as it proceeds to make moves in the stock market since potential rewards are on the horizon.
‘Railway Stocks’ Article By Debanjana Talukdar
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