IRCTC’s unique offering of several promising businesses under one umbrella would continue to enjoy a ‘scarcity premium’
[Representative image: AP]
PRO Only Highlights
– Quarterly performance largely backed by improved realisations
– Medium-term triggers China plus and protectionist measures for tyre industry
– Valuations not inexpensive; but improved medium-term outlook
IRCTC (CMP: Rs 2188 Market Cap: Rs 35,015 crore) has weathered the Covid storm with élan as evident from the stock’s performance. From the lows of March 2020 till date, IRCTC has rallied a whopping 142 per cent as against the Nifty gain of 108 per cent. Even financial results indicated that the company managed the most challenging year quite decently, thanks to the steady contribution from the internet ticketing business that held up despite a significant reduction in…
