NSE:IRCTC FINANCIALS: Shares Stuck in Bear Grip

Nse:irctc Financials: The current share price of IRCTC In 2022, the NSE:IRCTC FINANCIALS stock fell 20% while the benchmark Sensex index increased 5%. In a year, the large-cap stock has down 15.59%.

The shares of Indian Railways’ tourist and ticketing division increased by 0.08 percent during the most recent trading session to Rs 649.40 from its previous closing on BSE of Rs 648.90. A total of 7748 shares of the company were traded, resulting in a turnover on the BSE of Rs 50.25 crore. NSE:IRCTC FINANCIALS had a market value of Rs 52,012 billion.

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Technically speaking, NSE:IRCTC FINANCIALS’s relative strength index (RSI) is 54.7, indicating that the stock is neither oversold nor overbought. The one-year beta of the NSE:IRCTC FINANCIALS stock is 1.3. This indicates the stock has a higher risk and very high volatility. The price of the large cap stock is above the 5 and 20 day moving averages, but below the 50, 100, and 200 day moving averages.

The price to equity ratio for NSE:IRCTC FINANCIALS stock is 55, which is higher than the industry PE of 50.45. This indicates that the stock is overpriced in relation to its competitors.

Here is a Look at What Analysts had to Say About The NSE:IRCTC FINANCIALS Stock’s Negative Sentiment and How Long it Would Take for it to Recover.

According to Abhijeet of Tips2trade.

A monopolistic industry with solid fundamentals supported by a significant increase in passenger traffic over the previous three years bodes well for the future price of NSE:IRCTC FINANCIALS’s stock. Both technically and fundamentally, the stock is oversold on the daily charts and has virtually reached its lowest PE ratio. For targets of 810-892 in the upcoming months, investors should buy on a fall up to 620-630 levels or a sustained daily close above 702.”

Manoj Dalmia, founder and director of Proficient Equities:

NSE:IRCTC FINANCIALS appears rather lethargic with bad quarterly results,” said Manoj Dalmia, founder and director of Proficient Equities. “There is some concern in the stock since it was suggested that the government may consider having a part in the convenience fee levied on ticket booking.” The price of NSE:IRCTC FINANCIALS stock has been fluctuating sideways, and the structure of the present chart does not indicate a clear trend. Given that it is close to a support level and presents an opportunity to acquire, investors can anticipate some up moves in a shorter time frame.

Ravi Singhal, CEO of GCL :

As stock have selling pressure from Government for share sale, which has surmounted now,” said Ravi Singhal, CEO of GCL. With a stop loss of Rs 625, we believe it can now outperform from here for the target price of Rs 970.

Vinit Bolinjkar, Head of Research at Ventura Securities :

Shares of NSE:IRCTC FINANCIALS got prohibited in the F&O on December 16, 2022. Because the derivative contracts in the stock reached 95% of the market-wide position limit. Stated Vinit Bolinjkar, Head of Research at Ventura Securities (MWPL). It caused its stock price to drop sharply as a result. For NSE:IRCTC FINANCIALS stock derivative contracts, no new positions can open.

This restriction is only eliminated when the open interest (OI) falls below 80% of the MWPL across exchanges. The recent decline is a temporary effect brought on by the F&O prohibition and there are no structural issues with the company. In 2023. The NSE:IRCTC FINANCIALS stock is anticipated to do well. And the business will gain from higher licence income in catering as it reverts to pre-COVID levels.

Additionally Robust Due:

we anticipate that internet ticketing will continue to be robust due to the rising acceptability of online ticket booking. Also, the advent of the new Vande Bharat trains and an increase in travel are projected to boost tourism. Long-term profitability should be assured by the company’s emphasis on e-catering projects and rising revenue from advertising & licence fees. Considering the strong tailwinds and the FY25 P/E of 49.2X, we advise holding NSE:IRCTC FINANCIALS shares in your portfolio.

Osho Krishan :

Technical & Derivative Research senior analyst Osho Krishan from Angel One stated, “After the OFS statement. NSE:IRCTC FINANCIALS’s stock took a dive and fell below its 200 SMA on the daily chart. The stock has oversold territory now, with immediate support located at Rs. 660, then Rs. 635. The main obstacle is located at the bearish gap in the Rs 700–725 odd zone. Which even crosses the 200 SMA, at the higher end. So, the stock is likely to stay inside the indicated range until we see the gap being filled.”