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Home / Markets / Stock Markets /  Why analysts are bullish on IRCTC, Ircon? Here are the triggers

IRCTC, Ircon shares: On account of 1.52 lakh crore Indian Railways' asset monetisation plan laid down on Monday in the National Monetisation Plan (NMP), stock market experts have become highly bullish on IRCTC (Indian Railway Catering and Tourism Corporation) and Ircon International shares. They said that the announcement may work as catalyst in these two stocks' share price rally as these shares are already on the upside due to acceleration in unlock activities. According to stock market experts, both stocks deals in Indian Railways sector and after the asset monetisation announcement, there will be an additional trigger aiding the share price rally of these two stocks in long-term. They advised investors to add these two counters in their portfolio and hold for long term.

Speaking on the triggers that may fuel IRCTC and Ircon shares; Avinash Gorakshkar, Head of Research at Profitmart Securities said, "IRCTC and Ircon International share prices are already poised for an upside swing due to fast catching unlock activities. Now, after the announcement of Indian Railways' 1.52 lakh crore asset monetisation programme by FY25, these shares are expected to gain momentum and showcase sharp upside movement in long-term. Since, there will be monetisation of passenger trains too, IRCTC is expected to emerge as major beneficiary as it is tried and tested player in running private trains. Similarly, there will be monetisation of goods shades, railway tracks and railway platforms; Ircon International is expected to get direct or indirect benefit of this move."

However, Avinash Gorakshkar of Profitmart Securities said that unlock activities will have immediate impact on IRCTC and Ircon share price rally while Indian Railways asset monetisation impact will become visible in long-term. He said that one should buy these counters keeping in mind that Indian Railways asset monetisation is expected to complete by FY25 and one should add these stocks in portfolio keeping a long-term time-horizon to get full benefit of this central government's move.

IRCTC share price target

Sharing major levels in regard to IRCTC share price; Sumeet Bagadia, Executive Director at Choice Broking said, "IRCTC is a portfolio stock that one should buy and hold for long-term. This stock has strong immediate support at 2500. So, one can buy the counter at current market price for the target of 2750 to 2900 maintaining stop loss below 2500."

Ircon share price target

On his view on Ircon share price; Sumeet Bagadia of Choice Broking said, "One can buy the stock at current market price for the target of 48 to 50 maintaining stop loss below 40."

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