New Delhi: IRCTC share price has come under pressure ever since Railway Minister Ashwini Vaishnaw instructed the Indian Railways catering and ticketing arm to improve food quality and hygiene conditions in pantry cars operated by it in trains in the country. On Tuesday, June 25, 2024, IRCTC’s share opened with a gap down at Rs 1,019 on the Bombay Stock Exchange (BSE) and soon dwindled down in excess of one per cent on the bourse. The Railway Minister’s tightening the noose on the operations of the corporation has weight down on its share price and this has made retail investors warry of IRCTC’s share price performance. In this scenario, investors are looking for expert advice on the scrip and we have brought you an expert view on the Railway stock.
IRCTC resistance and support levels: Expert Advice
Stock market expert, Arun Mantri, founder, investment advisory firm, Mantri Finmart, has said that overall chart of IRCTC still looks good, he gave IRCTC resistance and support levels. Mantri said “The stock is looking sideways on the daily charts with support placed around Rs 970-980 levels on the lower side, while, Rs 1080-1090 will be the next major resistance for the near term.”
IRCTC chart trading view: Expert Advice
However, according to Mantri, the overall structure of IRCTC looks good for medium term perspective. Now, lets look at how much money investors have made in the stock in the past.
IRCTC share price performance
IRCTC share price is down almost two per cent in the past five days
The stock has plummeted nine per cent in past one month
The PSU stock’ price has zoomed 15 per cent in the past six months
The Railway stock’s price has shot up 58 per cent in the past one year
The Railway Minister giving a shout-out to officials of IRCTC, has strictly instructed them to upgrade kitchens operated in trains by IRCTC at 1,000 different locations in the next six months. Vaishnaw also instructed the operators to deeply clean pantry cars operated by the ticketing and catering arm of Indian Railways. Vaishnaw has ordered officials to take these steps on war footing giving them strict deadline of next six months.
Vaishnaw’s comments have come at a time when lot of footage of dirty hygiene practices in pantry cars operated by IRCTC went viral on social media platforms. Instances of not-so-good quality food items were also reported in the government of India’s flagship Vande Bharat trains.
IRCTC share PRICE TARGET: Stock market expert Arun Mantri, founder, Mantri Finmart, has said that the overall structure of IRCTC looks good for medium term perspective. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
