Shares of Indian Railway Finance Corporation and Indian Railway Catering and Tourism Corporation rose by 0.34% to 2.88% after the Department of Public Enterprise granted the 'Navratna' status to both these entities.
The Department of Public Enterprises (DPE) falls under the Ministry of Finance and it plays a pivotal role in formulating policies and guidelines concerning the functioning and performance of public sector enterprises in India.
'Navratna status is conferred upon public sector undertakings that demonstrate outstanding financial and market performance. This recognition enhances their autonomy and financial authority.
Shares of Indian Railway Finance Corporation (IRFC) advanced 2.88% to Rs 114.35 while those of Indian Railway Catering and Tourism Corporation (IRCTC) gained 0.34% to currently trade at Rs 678.35 on the BSE.
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