Despite posting solid Q4 earnings in 2023, Indian Railway Catering and Tourism Corporation’s share price today was under selling pressure. Today’s opening gap to the negative led to the IRCTC share price hitting an intraday low of $627.30 per share on the NSE, a decrease of about 3% from Monday’s closing of $645.75 per share.
IRCTC Q4 results 2023 are in line with market expectations, thus stock market experts advise positioning investors to take advantage of this decrease in share price as a purchasing opportunity. So, shortly after the stock market opened today, profit booking in IRCTC shares was triggered. They claimed that the level of 605 per share provides solid support for the price of IRCTC stock. According to experts, ITCTC shares have resistance at 650 and once clearing this barrier, it may turn positive for the short to medium term and increase to levels of 727 per share.
IRCTC share prices are dropping due to the profit booking trigger in early morning deals, according to Chandan Taparia, a derivative and technical analyst at Motilal Oswal. IRCTC’s Q4 2023 earnings were in line with forecasts yesterday, and as a result, profit taking in the stock began as soon as the market opened today. However, as the company is anticipated to rebound rapidly from its current lows, investors should view this dip in IRCTC shares as a buying opportunity.
According to Chandan Taparia, the IRCTC share price has a hurdle set around 650 per share levels, and once it overcomes this immediate resistance, set at 650 per share levels, it may turn very bullish. He recommended IRCTC stockholders to hold onto their shares since they could experience a substantial rebound from current lows.
What is IRCTC stand for?
The IRCTC is the Indian Railway Catering and Tourism Corporation. The Ministry of Railways formed an Indian Railways subsidiary to manage catering, tourist, and online ticketing services. Mahendra Pratap Mall is the IRCTC’s current (as of October 2017) chairman and executive director.
Goals of IRCTC?
- Be simple to utilise.
- Utilise resources as efficiently as possible while enhancing human resource effectiveness.
- progress in the agency sector and a merger to create a catering service with exceptional efficiency.
- In order to create commercial prospects, make use of public-private partnerships.
- Expand High standards, business ethics, processes for ensuring quality, and cost management.
Where is the headquarter of IRCTC?
IRCTC is headquartered in New Delhi, India.
IRCTC Mission?
Utilising industry best practises, to enhance customer service and facilitation in the train catering, hotel, transport, and tourism sectors.
Advantages of IRCTC?
- IRCTC provides a variety of amenities, including the opportunity to check seat and ticket availability.
- You can make a trekking map available to frequent travellers.
- Tatkal ticket reservations are available.
- However, There are alternatives for booking special trains.
- enables customers to make online payments using a credit or debit card, net banking, or both.
- A flight booking service is also available.
Disadvantages of IRCTC?
- Due to the high volume of users creating tickets on this website, sluggish replies or hangs may occur.
- It’s possible that your payment gateway will not work properly once you’ve completed the entire ticket booking form.
- Your bank account will be debited without a ticket being printed.
IRCTC share price target 2023
Chandan Taparia of Motilal Oswal revealed a money-making technique for IRCTC shares, saying. Also, .”One can buy IRCTC shares at around 630 apiece levels for immediate target of 650 and 670 maintaining.”
Furthermore, According to Vaishali Parekh, Vice President of Technical Research at Prabhudas Lilladher, who shared Chandan Taparia’s opinions, the IRCTC share price “bottomed out near the 560 zone and given a decent pullback towards 630 levels where the stock has been in consolidation and currently has given a strong positive candle to indicate a breakout above the rectangular box anticipating for further upside move with improvement in the bias. After a brief drop, the RSI has recovered strength to recommend a buy, with significant upside potential to maintain the trend.
Keep a close eye on the share price objective if you’re an investor looking for long-term gains in the Indian Railway Catering and Tourism Corporation Limited (IRCTC). Analysts have set price targets of $2800 and $3000, which, if purchased in advance of forecasts, could both be reached with respectable returns in a short period of time.
IRCTC is expanding significantly, and after the business splits its stock, the share price target is anticipated to rise. Although, The first anticipated aim for 2023 is 730.498, while the second is expected to be 752.464.
| IRCTC Share Price Target 2023 | |
|---|---|
| First Target | ₹730.498 |
| Second Target | ₹752.464 |
IRCTC Q4 results 2023
IRCTC reported a net profit of 278.8 crore in the fourth quarter of FY23, up from 214 crore in the same quarter a year earlier. IRCTC reported double-digit year-over-year growth in all major metrics and recommended a 100% dividend for its shareholders. In Q4FY23, operating revenue increased by 39.7% to $965 crore from $691 crore in Q4 of the previous fiscal year.
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