The Indian Railway Catering and Tourism Corporation (IRCTC) shares struck a new high today when they achieved $2,398.80 per share, representing a 5.5 percent increase in the IRCTC share price. The Indian Railways’ PSU stock has risen by roughly 14.5 percent in the last month, while the IRCTC stock has been setting new highs on a regular basis. According to stock market analysts, IRCTC will continue to gain because three factors are working in its favour: increased unlock activity, increased rail infrastructure spending, and more private trains running on railway tracks in the future.
“IRCTC share price is surging because to three primary factors – acceleration in unlock activities, rise in rail infrastructure expenditure, and rumours of more private trains to run on the Indian Railway tracks,” Ravi Singhal, Vice Chairman at GCL Securities, said. These three factors are all working in IRCTC’s favour, as the company’s main source of revenue at the moment is online Indian Railway ticket purchasing. However, as rail infrastructure improves, more private trains are scheduled to arrive, and IRCTC will be bringing in more private trains, opening up new revenue streams for the company. These three triggers are expected to occur.
