Sell IRCTC, target price Rs 758: ICICI Direct

ICICI Direct has sell call on Indian Railway Catering & Tourism Corporation with a target price of Rs 758. The current market price of Indian Railway Catering & Tourism Corporation Ltd. is Rs 810.2. Time period given by analyst is Intra Day when Indian Railway Catering & Tourism Corporation Ltd. price can reach defined target.

Indian Railway Catering & Tourism Corporation Ltd., incorporated in the year 1999, is a Mid Cap company (having a market cap of Rs 64784.00 Crore) operating in Tourism & Hospitality sector.

Indian Railway Catering & Tourism Corporation Ltd. key Products/Revenue Segments include Packaged Drinking Water, Other Services (Tour Income), Beverages & Food, Other Services and Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2021, the company reported a Standalone Total Income of Rs 421.06 Crore, up 63.24 % from last quarter Total Income of Rs 257.94 Crore and up 287.27 % from last year same quarter Total Income of Rs 108.73 Crore. Company reported net profit after tax of Rs 158.57 Crore in latest quarter.

Investment Rationale
Breakdown from triangle formation and close below 50 DEMA.

Promoter/FII Holdings
Promoters held 67.4 per cent stake in the company as of 31-Dec-2021, while FIIs owned 7.06 per cent, DIIs 4.69 per cent.