Buy now? IRCTC share price to give 25 pct returns on your money - from this Children's Day, 2019 to Children's Day, 2020, say experts
As far as IRCTC share price is concerned, the conviction level is extremely high and hence profit-booking in the counter is expected to open up fresh positions that can be taken by investors, say experts.
Children's Day Stock: Indian Railway Catering and Tourism Corporation or IRCTC share price has been scaling new highs ever since it got listed on stock markets recently. If we go by the stock market experts' view, the Indian Railways vendor company's fundamentals are strong and in long-term can prove to be a valuable asset. However, if someone buys the IRCTC shares for near five year term, it is expected to double its current market price - means IRCTC share price would be around Rs 1,850 per stock levels in the next five years, say share market experts.
Speaking on the technicals of the IRCTC shares, Simi Bhaumik, a SEBI registered technical equity analyst said, "The IRCTC share price has strong support at Rs 850 and those who got the IRCTC IPO subscription should hold it for the long-term as the IRCTC stocks are still looking positive."
However, Bhaumik warned investors away from taking any fresh position in the IRCTC stock in the current price range saying, "The IRCTC shares have been going upward and some profit booking is expected in it. I would recommend fresh position to the share market investors only when the profit-booking happens to the tune of at least 10-15 per cent from current levels of around Rs 915 per stock levels."
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Asked about the IRCTC shares outlook in the next one year Bhaumik said, "From this Children's Day 2019 to Children's Day 2020, one can expect around 25 per cent returns on one's investment in the IRCTC shares."
Elaborating upon the IRCTC share price outlook in next five years Shrikant Chouhan, Senior VP — Equity Research at Kotak Securities said, "For those stock market investors who are looking for a fresh buying in the IRCTC counter, I would suggest them to invest 25 per cent of their surplus amount in the IRCTC shares and keep on adding after every 10 per cent dip from onwards."
Chouhan said that in the next five years, the IRCTC share price will be at least double its price, where it has been listed. Asked about the reason for such a cautious approach in the IRCTC shares, Chouhan said, "The conviction level in the counter is very high hence, it is bound to witness some profit-booking. But, at the same time, IRCTC's business is very strong. Hence, I am suggesting stock market investors invest in IRCTC counter in a calibrated manner."