IRCTC share steams ahead 5% as Macquarie initiates with 'Outperform'

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IRCTC share steams ahead 5% as Macquarie initiates with 'Outperform' - Business Standard

Quick Summary:

According to reports, Macquarie highlighted IRCTC’s monopoly in Indian Railways’ e-ticketing and catering services as a key driver of its robust net cash position.

Beyond railway services, IRCTC has expanded its offerings to include flight and hotel bookings, making it a one-stop travel solution.

The northward movement in IRCTC share price came after foreign brokerage firm Macquarie initiated coverage with ‘Outperform’ rating, with a target price of Rs 900.