IRCTC shares added nearly ₹1,000 crore to their market value in the opening minutes of trade as Indian Railways is set to take bookings
- IRCTC rallied over 5%, adding nearly a ₹1,000 crore to the market value, on Monday (May 11).
- The Rail ministry said the online booking for the trains will start at 4 pm today(May 11) on the IRCTC website.
- Prabhudas Lilladher, a brokerage firm maintained its ‘Buy’ rating on IRCTC, with a target price of ₹1,428 as of April 27.
IRCTC share price has climbed over 36% so far since March 31. While the earnings estimates for IRCTC have been cut due to the prolonged shutdown, the target price still has room to grow the investor wealth. Prabhudas Lilladher, a brokerage firm maintained its ‘Buy’ rating on IRCTC, with a target price of ₹1,428 as of April 27. All thanks to four new Rail Neer plants which will be commissioned in 2020-21 and are expected to contribute a huge increase in its revenue.
SEE ALSO: IRCTC share price has jumped 30% in April so far despite the lockdown that’s halted trains, ticketing, and even Rail Neer sales
Indian Railway's to start 15 premium passenger trains from May 12 — booking on IRCTC starts today at 4 pm