IRCTC Strong Stock Market Listing Review by Epic Research
IRCTC listed with nearly 100 percent gains over the issue price. The IPO of government-owned railways catering company has received a strong response from the market. Indian government still holds majority stake in IRCTC with 87.4% holding.
The stock crossed INR 700 level quickly and has been trading strong. Views on IRCTC stock by Mr Mustafa Nadeem, CEO, Epic Research follow.
There are views of an investor who go for IPO and many of them are for listing gains. So if you are a short term investor with a view where you subscribed for listing gains. A 120% return is something really really good in a single day. It may be best of the returns we have witnessed in listing gains of recent IPOs.
So if time horizon or view was for listing gains one should book, at least half to 70% and rest can be trailed with Stoploss like cost +50% of the gains. While any investor who is a long term player should definitely hold this stock.
This is a very unique business model in India that is listed and also very robust numbers in its BS for the last three years. So for long term its a definite hold while listing gain traders should book 70% and trail rest with stop loss.