DMART has been one incredible wealth creator over the last few years. The company did an IPO in March 2017 at Rs 299. The stock got listed at 600 and now 2.5 years later the stock is near Rs. 1800.
The stock was always expensive and with every rise, it became more expensive. It was at Rs. 800 back then when this article came and everybody was freaking out
When there is a race to own the stock and there is growth momentum, then the sky is the limit
Can Indian Railway Catering and Tourism Corporation IRCTC follow the DMart stock price chart?
Indian Railway Catering and Tourism Corporation is a subsidiary of the Indian Railways that handles these distinct profitable businesses with no competition: 1. Online ticketing operations of the Railways; 2.Catering; and 3. Bottled water. It’s a great business to own and very few people would be willing to sell this stock
Source: Chartalert.com
As you can see in the chart above, IRCTC has made a great start post the IPO. Also, the stock after making the initial move has become quiet and holding to the current base. It looks like eventually, it will take off and I would not be surprised if this stock double in value over the next 2 years
Nothing is guaranteed in the market. And if you plan to make an investment on the assumption that this sideways move will eventually result in upside move, then be prepared to exit on any breakdown below 840 on a closing basis. This stock is not suitable for traders who are looking for quick trade but more for patient investors who are looking at the attractive entry point to realize gains over the period of time
Please do your own due diligence before trading
IRCTC now up 17%
