IRCTC gains as Railways to run 20 new clone trains from today

IRCTC rose 0.51% to Rs 1,410.95 as the Railways will run twenty pairs of clone trains from 21 September to accommodate the rush on certain routes.

Considering the huge demand for travel on specific routes, Ministry of Railways has decided to run 20 pairs of clone special trains from 21 September 2020. These clone trains will run on notified timings and will be fully reserved trains. The stoppages shall be limited to operational halts.

The 19 pairs of clone special trains will run by utilizing Humsafar rakes. 1 pair 04251/04252 Lucknow-Delhi Clone special shall run as Jan Shatabdi Express. Fare of Humsafar rake will be charged as Humsafar trains and for Janshatabdi rake, fare will be charged as Janshatabdi Express. The ARP (Advanced Reservation Period) will be 10 days.

These clone special trains will be in addition to special trains which are already in operation.

Shares of IRCTC rose 0.51% to Rs 1,410.95 on BSE. The stock soared 125.75% from its 52-week low of Rs 625 hit on 14 October 2019.

On a standalone basis, IRCTC reported net loss of Rs 24.60 crore in Q1 June 2020 compared with net profit of Rs 72.34 crore in Q1 June 2019. Net sales tumbled 71.4% to Rs 133.33 crore in Q1 June 2020 over Q1 June 2019.

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. IRCTC operates in four business segments, namely, internet ticketing, catering, packaged drinking water and travel & tourism.

The Government of India holds 87.4% stake in IRCTC as of 30 June 2020.

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