IRCTC hits lower circuit for 8th straight day, declines 58% in one month

To curb the coronavirus outbreak, all passenger train services on Indian Railways including premium trains, mail/express trains, Konkan Railway, etc have been cancelled till March 31.

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) were locked in the lower circuit band for eighth consecutive day on Wednesday, down 5 per cent at Rs 816 on the BSE on concerns over poor earnings due to cancellation of trains in order to curb the spread of coronavirus (Covid-19). In comparison, the S&P BSE Sensex was up 5 per cent or 1,360 points at 28,034 at 01:10 pm.

The stock of the state-owned travel support services company hit a five-month low, and was trading at its lowest level since October 22, 2019. In the past one month,