India's IRCTC rises; Macquarie starts with 'outperform'

Indian Railway Catering and Tourism

10/01/2025 06:44

** Indian Railway Catering and Tourism Corporation  INIR.NS 
rises as much as 4.8% to 800.8 rupees; last up 3.4%
    ** Macquarie initiates with "outperform"; sets PT at 900
rupees, ~18% higher than Thursday's close
    ** Says IRCTC enjoys monopoly position for Indian railways'
e-ticketing and catering services
    ** Sees path to double returns for IRCTC linked to India's
railway modernisation ambitions
    ** About 4.7 mln shares traded, 4.4x the 30-day avg
    ** Stock rated "hold" on avg; median PT is 833 rupees - LSEG
    ** YTD, IRCTC turns positive

 (Reporting by Anuran Sadhu in Bengaluru)
 ((Anuran.Sadhu@thomsonreuters.com; +91 8697274436;))