The recent spike in Covid-19 cases in the country poses near-term risks to Indian Railway Catering and Tourism Corporation's (IRCTC) growth, but the company's monopolistic nature of business, low fixed-cost model and healthy net-cash position have analysts hooked.
The stock, which is a play on the growth story of Indian Railways, has corrected 15 per cent from its 52-week high level of Rs 2,072.95 scaled on March 9 amid worries over the steady rise in Covid cases. Yet, this has not deterred brokerages from holding a bullish view on the stock.
Accelerated adoption of online ticketing, conversion of unreserved coaches