IRCTC partner with SWIGGY in food delivey:– IRCTC’s stock had a good run, climbing over 2% during the morning trading on Friday, February 23. It’s the second day in a row the company has seen gains. Investors got excited when IRCTC revealed its new partnership with Swiggy, the food delivery service. This team-up lets passengers order meals ahead of time through IRCTC’s e-catering portal, making train dining even more convenient and enjoyable.
They mentioned that the initial phase of the pilot program will take place at four railway stations: Bengaluru, Bhubaneswar, Vijayawada, and Visakhapatnam. Soon, passengers at these stations may enjoy the convenience of the e-Catering service through Swiggy Foods
“IRCTC has announced that you’ll soon be able to enjoy e-catering services conveniently through Swiggy.”
IRCTC partner with swiggy:-What does this deal mean for the companies?
The collaboration between IRCTC and Swiggy benefits both parties. Swiggy stands to gain significantly from increased demand driven by the country’s large number of passengers. Meanwhile, IRCTC can improve passenger experience by tapping into Swiggy’s extensive network to provide a wide variety of pre-ordered meals, according to analysts.
According to experts, teaming up with the online food delivery platform will enhance IRCTC’s reputation, streamline its operations, and support its potential growth.
Atul Parakh, CEO of Bigul, stated, “IRCTC joining forces with Swiggy to deliver pre-ordered meals will make travel more convenient for passengers, provide a broader range of food choices, and boost its brand perception.
The analyst highlights that successful execution is crucial, as integrating Swiggy’s delivery network with IRCTC’s operations could be challenging and may cause delays or interruptions.
Aditya Goela, CFA and co-founder of Goela School of Finance, views IRCTC’s partnership with Swiggy as a significant step towards enhancing passenger experience. He sees the collaboration as a strategic move that combines Swiggy’s strong network with IRCTC’s established platform to offer passengers a wide range of pre-ordered meals.
“In the long run, it’s a promising investment. However, there might be some short to medium-term uncertainties, especially with elections approaching,” said Goela.
He also noted that as the service expands, investors are keeping an eye on the potential growth trajectory of IRCTC shares, expecting a positive market response to this innovative venture.
IRCTC partner with swiggy :-IRCTC shares What do the technical suggest?
According to Jigar S. Patel , Senior Manager and Technical Research Analyst at Anand Rathi Shares and Stock Brokers, the stock is showing signs of potential strength in its upward movement.
Patel explained about IRCTC partnership with swiggy, “The reversal of the daily stochastics from the key 50 levels indicates a shift towards a bullish momentum, suggesting potential strength in the stock’s upward trajectory. If the stock successfully closes above the resistance at Rs 968, it might open the path for a move towards the Rs 990 mark in the near term, reflecting positive investor sentiment.”
He also mentioned that looking ahead, in the upcoming trading sessions, the support level around Rs 940 is anticipated to provide reliable support. This could act as a safeguard against downward pressures on prices, reinforcing the overall optimistic outlook for IRCTC.