IRCTC gains as Ahmadabad Mumbai Tejas Express to resume services

Indian Railway Catering and Tourism Corporation (IRCTC) rose 0.68% to Rs 2208.10 after the company informed that Ahmadabad Mumbai Tejas Express will resume its services from 7 August 2021.

The train will run four days in the week viz, Friday, Saturday, Sunday and Monday, IRCTC said.

Meanwhile, Life Insurance Corporation of India (LIC) has raised its stake in the company to 1.90% as on 30 June 2021 from 1.12% as on 31 March 2021.

Government of Singapore, however, pared its stake in the company to 1.55% as on 30 June 2021 as against 1.75% stake as on 31 March 2021.

IRCTC, a Mini Ratna public sector enterprise under the administrative control of Ministry of Railways, is the sole entity authorized by Indian Railways (IR) to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India. As of 30 June 2021, the Government of India held 67.4% stake in the company.

The company posted a 23.2% decline in net profit to Rs 103.78 crore on 41.15% decline in revenue from operations to Rs 338.78 crore in Q4 FY21 over Q4 FY20.

Powered by Capital Market - Live News