Why IRCTC shares are sideways despite uptrend in RVNL, IRFC, other rail stocks
- RVNL, IRFC, Ircon shares are rising as market is expecting some big rail infra-related announcement in upcoming budget 2023, say experts
Shares of Indian Railway Catering and Tourism Corporation or IRCTC has remained sideways throughout the year 2022. In fact, the stock has remained bears' favourite sell on rise stock since October 2021. However, in last few sessions, the IRCTC share price is trying to come out of the base building mode. Interestingly, IRCTC shares have failed to gain momentum despite other rail stocks like Rail Vikas Nigam Limited or RVNL, Indian Railway Finance Corp ort IRFC, Ircon International, etc. have given strong return in last one month. RVNL share price has surged to the tune of 85 per cent in last one month, IRFC share price has risen near 45 per cent in last one month whereas Ircon International share price has shot up to the tune of more than 30 per cent in this time horizon.
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