IRCTC share price touches 52-week high. Buy, hold or book profit?

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IRCTC share price: Shares of Indian Railway Catering and Tourism Corporation (IRCTC) have been on an uptrend after ushering in November 2023. IRCTC's share price bottomed out at ₹645 apiece levels at the end of October 2023. After that, it has been ascending continuously and hitting a new 52-week high regularly.

In the last one month time, IRCTC share price has rallied more than 25 per cent but it seems that IRCTC shares still possess upside potential. IRCTC share price today opened with an upside gap and went on to touch an intraday high of ₹923.45 per share level on NSE, logging an intraday gain of nearly 2.50 per cent. While climbing to this intraday high, the IRCTC shares touched a new 52-week high as well.

According to stock market experts, the market is expecting better Q3 numbers from the company in the internet ticket booking business. They said IRCTC diversified its business during COVID-19 pressure and that is also expected to bear fruits for the company. The online hotels, food, and air ticket booking business of the IRCTC is also expected to see some upside in the upcoming results season.

They advised IRCTC shareholders to hold the scrip as IRCTC share price may go up to ₹980 apiece levels in the short term. On important triggers that are fueling IRCTC share price rally, Avinash Gorakshkar, Head of Research at Profitmart Securities said, "IRCTC's online train ticket booking is expected to rise in October to December 2023 quarter and the market has an idea about this. Apart from this, new Vande Bharat trains are also expected to see the track in the short to medium term, which may help the Indian Railways' PSU to further diversify its business." Also Read: NHPC shares hit 52-week high on CERC's favourable