Buy Indian Railway Catering & Tourism Corporation, target price Rs 790: IIFL

IIFL has buy call on Indian Railway Catering & Tourism Corporation with a target price of Rs 790. The current market price of Indian Railway Catering & Tourism Corporation Ltd. is Rs 755.6.

Indian Railway Catering & Tourism Corporation Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 60436.00 Crore) operating in Tourism & Hospitality sector.

Indian Railway Catering & Tourism Corporation Ltd. key Products/Revenue Segments include Other Services, Other Services (Tour Income), Packaged Drinking Water, Beverages & Food, Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 877.01 Crore, up 22.35 % from last quarter Total Income of Rs 716.79 Crore and up 240.00 % from last year same quarter Total Income of Rs 257.94 Crore. Company reported net profit after tax of Rs 245.52 Crore in latest quarter.


Investment Rationale
The stock has given a Flag pattern breakout.

Promoter/FII Holdings
Promoters held 67.4 per cent stake in the company as of 30-Jun-2022, while FIIs owned 5.87 per cent, DIIs 5.32 per cent.