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Unfazed by Covid onslaught, brokerages eye up to 50% upside in IRCTC

While rising Covid cases pose some near-term risks to revival in financials, analysts remain unfazed as they see IRCTC as a long-term bet

IRCTC
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IRCTC has a monopolistic opportunity in online rail ticketing, sale of PDW and catering services for Indian Railways

Saloni Goel New Delhi
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

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