IRCTC rallies as Indian Railways to run new special trains

IRCTC rose 3.83% to Rs 1417.85 as Indian Railways has decided to start running 40 pairs of new special trains from 12 September 2020.

These services shall be in addition to the Shramik specials and the special trains, which are already under operation. The composition of these trains would be same as of existing regular services. Stoppages shall be restricted in view of the suggestions of State Governments. These will be fully reserved trains, IRCTC said in a release on Monday (7 September).

Nanda Devi Express, Dayodaya Express, Bundelkhand Express, Humsafar Express, Vikramshila Express are some of the special trains that will be operated.

IRCTC reported a 79.4% jump in net profit to Rs 150.61 crore on a 17.9% rise in net sales to Rs 586.89 crore in Q4 March 2020 over Q4 March 2019. The company will announce its Q1 June 2020 result on 11 September 2020.

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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