IRCTC share price to give colossal returns to investors, seen as MULTIBAGGER stock by experts

IRCTC share price may double from its current market price, which means in one or two years, say stock market experts.

IRCTC shares are awaiting profit-booking to the tune of near 10 per cent. If that happens then one can buy the stock for the long-term. Photo: Reuters

IRCTC share price: Ever since the listing of IRCTC, the Indian Railways vendor company's share price has been skyrocketing. In less than two months since its listing, the IRCTC share price has made a high of Rs 922 and a low of Rs 700. According to the stock market experts, IRCTC shares are set to rise further. However, there is some profit-booking awaited. Experts are of the opinion that there can be around 10 per cent correction in the counter if it breaks its immediate support of Rs 850. They said once the IRCTC shares break Rs 850 support it may go up to Rs 750 to Rs 800 per stock levels where one can buy for a massive long-term return as the IRCTC is a big Indian Railways vendor company and recently it has started train operations also.

See IRCTC share price movement since its listing:

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Speaking on the short-term perspective of the IRCTC shares, Simi Bhaumik, a SEBI registered tax and investment expert said, "The IRCTC share price has strong support at Rs 850 levels. In the short-term, the lower level is maintained then one can take a buy position in the IRCTC stocks for the target of Rs 950 to Rs 1,000." She advised share market investors to take buy position once the profit booking happens and then hold the counter for whopping returns may be more than 100 per cent as it happened in the case if IRCTC IPO listing. However, this return can be expected in around one to two years, she said.

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However, Prakash Pandey, MD & CEO at Plutus Advisors said that buying in the IRCTC shares should take place only when it witnesses profit-booking. He said that IRCTC has closed on November 29th at around Rs 896, which is mere Rs 26 away from its all-time high of Rs 922. If the stock manages to break this level in the coming few trading sessions, then its entire chart would get changed. Otherwise, if the IRCTC share price fails to go beyond its high of Rs 922 then profit-booking may get triggered and this may bring down the IRCTC stock to around Rs 750 to Rs 800 as it is in the overbought condition.

Pandey also advised share market investors to take buy position in the IRCTC counter at around Rs 800 and hold it for long-term, means at least one to two years. "In one to two years, the IRCTC shares can get double from its current levels. So, I advise share market investors to take buy position at around Rs 800 and hold it for near one to two years."

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