Nilesh Jain says immediate support on IRCTC share is now placed at Rs 1660
IIFL Securities initiates coverage on IRCTC with target price of Rs 2174. The key near-term risk is the rising Covid cases and a delay in recovery; but IRCTC’s low fixed-cost model and healthy net-cash position lend comfort. Medium-term risks are change in scope of catering by the Ministry of Railways and potential adverse regulation as GoI’s stake in IRCTC comes down
Indian Railway Catering & Tourism Corporation Ltd (IRCTC) is the only entity authorized by Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water: Reuters