Macquarie sees IRCTC rallying up to Rs 900, stock surges 3%

Shares of IRCTC rose 2.8% to Rs 784.50 after Macquarie initiated coverage with an "outperform" rating and a target price of Rs 900, indicating a 14.7% upside. Macquarie highlighted IRCTCs monopoly in e-ticketing and catering services, alongside its strong financials and growth prospects linked to railway modernization. The stock had declined over 25% in the last six months.