Stock To Buy: Miniratna Railway PSU Stock Soars 29% In 1-Month, TP Rs 920: PL

Prabhudas Lilladher has picked Indian Railway Catering and Tourism Corporation Ltd stock to buy today in its momentum call report. Last trading price of Indian Railway Catering share on BSE is Rs 903.80 apiece with intraday gain of 1.93%. Indian Railway Catering shares offered shareholders return of 28.89% in last 1-month only. The analyst has assigned the target price of Rs 920. IRCTC shares hit 52-week high in trade today. Check details below:

Why Railway Stocks Soared In 2023? Leading railway stocks witnessed strong rally in 2023. The surge in the top railway stocks was attributed to strong capex push in budget 2023. Earlier this year, finance minister Nirmala Sitharaman declared the biggest every push for Indian Railways with the announcement of a capital outlay of Rs 2.40 lakh crore, a rise of 65.6% when compared with preceding fiscal year.

Indian Railway Catering Stock Performance & Return: 52-week high price of Indian Railway Catering share on BSE is Rs 916.50 per share and 52-week low price is Rs 557.15 per share, respectively. The company has a market capitalisation of Rs 72,360.00 crore. Indian Railway Catering shares rallied 42% in last 6-months, soared 41% in last 1-year, and gave return of 213% in last 3-years.

IRCTC Financial Performance: The catering arm of the Indian Railways declared a surge of 30% year-on-year (YoY) in its standalone net profit to Rs 295 crore for the quarter ended September 2023 as against the net profit of Rs 226 crore in the corresponding quarter of last year. The company on November also announced an interim dividend of Rs 2.50 per equity share for the FY 2023-24.

IRCTC Stock Outlook & Return: Last trading price of IRCTC share on BSE is Rs 658.35 per share with intraday surge of 2.05% at 11:21 am. IRCTC stock's 52-week high price is Rs 775.00 per share and 52-week low price is Rs 557.15 per share, respectively. IRCTC has a market capitalisation of Rs 52,668.00 crore. IRCTC shares fell 11% in last 1-year, declined 20% in last 2-years, and offered return of 148% in last 3-years.

About IRCTC: Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) is a "Mini Ratna (Category-I)" Central Public Sector Enterprise under Ministry of Railways, Government of India. IRCTC was incorporated on 27th September, 1999 as an extended arm of the Indian Railways to upgrade, professionalize and manage the catering and hospitality services at stations, on trains and other locations and to promote domestic and international tourism through development of budget hotels, special tour packages, information & commercial publicity and global reservation systems. The authorized capital of the company is 250 crores and paid up capital is 160 crores. It's registered and Corporate Office is situated at New Delhi.

Disclaimer:

The stock has been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.