IRCTC shares rose 4.18% to a fresh high of Rs 1,065.50 against the previous close of Rs 1022.80 on BSE. Market cap of the firm rose to Rs 84,856 crore.
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) have gained 77% in a year. Of this, the railway stock delivered 45% returns in the last three months. The IRCTC stock is in a brief consolidation period, said analysts adding that the stock could surpass Rs 1,100 mark in the short term.
In Wednesdays trading session, the following five stocks witnessed a build of fresh long positions. Let us first understand how this conclusion is reached, whether the stock has seen a buildup of fresh long position or not.
Short-term traders are advised to buy the stock for a possible target of Rs 1,040 in 1-2 months. IRCTC stock hit a 52-week high of Rs 1,049 on January 23 but failed to hold the momentum. It drifted lower and closed at Rs 928, which translates into a downside of over 11%.