Exit IRCTC positions says this analysts, recommends buying peers like IRFC

Exit IRCTC positions says this analysts, recommends buying peers like IRFC

Shares of Indian Railways Catering & Tourism Corporation (IRCTC) Ltd. have risen only 11% so far in 2024. This is in comparison to its other railway-linked peers like IRFC and RVNL, which have risen over 70% so far this year.

Ravi Singh of Religare Broking suggests that one must exit their positions on IRCTC and instead buy into other railway-linked companies.

Answering a viewer query on CNBC Awaaz, Singh suggested three other railway stocks which one could buy instead of IRCTC and can also deliver better returns.

Singh recommended stocks like IRCON International, IRFC and Texmaco Rail, as those railway stocks that can deliver good returns going forward.

For IRCON International, while answering another viewer query, Singh suggested that the stock can see levels of ₹300 or ₹320 going forward. He also expects that the stock can see some impact due to the upcoming Union Budget as well.

He also advised placing a stop loss for IRCON at ₹255.

Shares of IRFC are up 75% so far this year and are trading near their record high of ₹200, which it hit on June 3. Texmaco Rail has also seen its shares go up by 27% so far in 2024.