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IRCTC partners with Swiggy for pre-ordered delivery of meals on trains: Check details here

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Swiggy will provide food delivery services at four railway stations — Bengaluru, Bhubaneswar, Vijayawada, and Visakhapatnam — in the first phase.

The Indian Railway Catering and Tourism Corporation (IRCTC) has partnered with the online food delivery platform Swiggy to deliver pre-ordered meals. On Thursday, IRCTC announced that the train passengers could now access the official e-catering portal of IRCTC to order food from different restaurants.

Sharing details about the website, app, and WhatsApp number to order food, IRCTC’s ECatering posted on X, “Ensure a delicious journey for yourself with over 2,000 restaurants available on IRCTC eCatering.”

In the first phase, Swiggy will provide food delivery services at four railway stations — including Bengaluru, Bhubaneswar, Vijayawada, and Visakhapatnam. The IRCTC mentioned in a stock exchange filing, “The IRCTC has tied up with Bundl Technologies Pvt. Ltd. (Swiggy Foods) for supply and delivery of pre-ordered meals through IRCTC e-catering portal as a PoC (proof of concept) in the first phase at four railway stations — Bengaluru, Bhubaneswar, Vijayawada and Visakhapatnam.”

Also read: IRCTC ties up with Zomato for delivery of pre-ordered meals, lines up Navratri treats

It added, “The eCatering service through Bundl Technologies Pvt. Ltd. (Swiggy Foods) may be available soon.”

The catering department of Indian Railways, IRCTC is tying up with such businesses to expand its services and provide better facilities to passengers travelling by train. However, this is not the first time IRCTC has partnered with any food delivery platform. Last year, in October, IRCTC announced a partnership with Zomato for ordering and supplying food at different railway stations.

Following the announcement in October 2023, IRCTC also mentioned that the services were available at certain stations such as New Delhi, Prayagraj, Kanpur, Lucknow, and Varanasi.

Meanwhile, the partnership with Swiggy is expected to boost the business of the food delivery platform as a large number of passengers travel by train. According to the IRCTC eCatering portal, one can now order by following three steps.

The passenger needs to choose an outlet by entering the PNR. Then the passenger can choose the food and schedule the order by paying online or choosing to pay Cash on Delivery.

The ordered food will be delivered to the passenger’s seat at the scheduled station. Apart from ordering individually, one can also order food for a group of 15 or more passengers. It will allow the order to have custom prices as well.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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How IRCTC plans to capitalise on the strong growth in railways

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Sanjay Kumar Jain, CMD of the ₹75,000 crore market cap catering, tourism, and ticketing company says opportunities for growth are plentiful but the real challenge lies in capturing the largest possible market share.

The ₹75,000 crore market capitalisation Indian Railway Catering & Tourism Corporation (IRCTC) expects the robust growth in railways and the addition of newer trains to boost the company’s performance across segments in the near term.

IRCTC reported its highest ever quarterly revenue and profit in the third quarter of the current financial year (Q3FY24). Net profit rose 17% year-on-year (YoY) to 300 crore, while revenue grew 22% YoY to 1,118 crore.

Sanjay Kumar Jain, Chairman and Managing of the Delhi-based company stated that while opportunities are plentiful, the real challenge lies in capturing the largest possible market share.

The government has earmarked nearly ₹2.55 lakh crore as capital expenditure for the Indian Railways for the next financial year, higher than the ₹2.4 lakh crore allocated for FY2024.

In Budget 2024, Finance Minister Nirmala Sitharaman also announced that 40,000 bogies would be converted to Vande Bharat standard to improve safety and convenience for passengers.

In an interaction with CNBC-TV18’s Shereen Bhan at the World Economic Forum 2024 in Davos in February, Railway Minister Ashwini Vaishnaw had highlighted the progress in the expansion and modernisation of the railways.

“Last year we added 5,200 km of new tracks. That’s like adding the entire Swiss network in one year. We are now aiming at a pace of 15 km of tracks a day,” he said.

Jain also shared insights on the different segments that IRCTC operates in. Apart from tourism, catering, and ticketing services, IRCTC also manufactures bottled water under the brand name Rail Neer,

Jain said the company will add a new Rail Neer plant with 75,000 bottles per day capacity by July end. It already has a plant at Vishakhapatnam in Andhra Pradesh with a similar capacity.

In the third quarter of the current financial year (Q3FY24), the Rail Neer vertical had an EBIT (earnings before interest and tax) loss of a little over ₹3 crore versus a profit of around ₹9 crore in the same quarter last year. 

The 75-100 Vande Bharat trains ,Jain noted, have already aided ticketing growth, he noted, adding that the new trains announced recently will further boost growth.

In terms of Bharat Gaurav trains, IRCTC has already entered a memorandum of understanding (MoU) with the Uttarakhand government and is in discussion with other state governments also, he said.

“We are already 10+1 Bharat Gaurav trains and there are many more in the pipeline because of our MoU with the state government,” he said.

For more, watch the accompanying video 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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IRCTC net profit jumps over 17% to ₹300 crore; revenue up nearly 22%

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

IRCTC revenue also surged 21.8% on a YoY basis to ₹1,118.3 crore in the quarter, compared to ₹918.1 crore it had posted in Q3FY23.

Indian Railway Catering & Tourism Corporation (IRCTC) reported a 17.4% jump in net profit on a year-on-year (YoY) basis at 300 crore in the quarter ended December 31, 2023. The rail ticketing, catering and tourism management firm had reported a net profit of 255.5 crore a year ago in the same quarter.

IRCTC revenue also surged 21.8% on a YoY basis to 1,118.3 crore in the quarter, compared to 918.1 crore it had posted in Q3FY23.

At the operational level, IRCTC posted a nearly 21% jump in its earnings before interest, tax, depreciation and amortization (EBITDA) at 394 crore in Q3FY24, compared to 325.9 crore a year ago in the October-December quarter. The margin dropped slightly to 35.2% in Q3FY24 compared to 35.5% in Q3FY23.

IRCTC shares closed 1.19% higher at 910.80 on BSE.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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IRCTC shares hit 52-week high on plans to expand catering services beyond Indian Railways

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Rising for a fourth straight day, IRCTC shares opened higher and rose further by 2.82% to hit a year-high of ₹800 per share on BSE. Around 2.5 lakh shares of the company changed hands in morning deals on the bourse.

Indian Railway Catering and Tourism Corporation (IRCTC) shares jumped nearly 3% to hit a 52-week high on Thursday as the company revealed plans to expand beyond the Railways.

Rising for a fourth straight day, IRCTC shares opened higher and rose further by 2.82% to hit a year-high of ₹800 per share on BSE. Around 2.5 lakh shares of the company changed hands in morning deals on the bourse.

The stock has rallied more than 6% in the four trading sessions to Thursday. Shares have rebounded around 44% from its 52-week low levels hit on March 29, 2023.

IRCTC, a Mini Ratna PSU and the hospitality and tourism arm of Indian Railway, has stated that it looks to expand in the areas of business beyond Railways as part of its vision to become a premier brand of Hospitality and Catering in the country.

IRCTC looks to expand its catering operations across the country. It is also in discussions with various other government organizations and industrial houses for setting up catering units.

The railway PSU has signed MoUs with various government and autonomous bodies including defence establishments such as Border Security Force, Indian Maritime University, Kolkata, and Cotton University Guwahati.

IRCTC is also in the active phase of commissioning 15 more catering units across the country in the near future, the company stated.

The catering services arm of the Indian Railways reported a 30% increase in net profit to ₹295 crore for July-September against ₹226 crore a year ago.

Its revenue from operations in the quarter rose by 23% to ₹995 crore against ₹806 crore in Q2 of FY24.

IRCTC shares were trading 1.43% higher at ₹789.15 apiece on BSE at 10.22 AM.

Catch live market updates with CNBC-TV18.com’s blog 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Stocks to Watch: Cipla, Apar Industries, Indian Hotels, NMDC, L&T Finance and more

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

From Apar Industries’ QIP to Indian Hotels investing in rights issues, here are the stocks to watch out for ahead of Friday’s session

Apar Industries, stocks to watch, top stocks
Apar Industries | Metallurgical and chemical engineering firm on Thursday has initiated a Qualified Institutional Placement (QIP) with an issue size of ₹1,000 crore, sources privy to the developments told CNBC-TV18. The indicative price for the QIP has been set at ₹5,264 per share, which is a 7.4% discount to Thursday’s closing price. The company plans to utilise the proceeds to fund its working capital needs.
Indian Hotels Company results
Indian Hotels | Data of 15 lakh users exposed in the Taj Hotels data breach is available to buy on the dark net. An Indian Hotels spokes person said that they have been made aware of someone claiming possession of a limited customer data set which is non-sensitive in nature and that they continue to monitor their systems.
Cipla, stocks to watch, top stocks
Cipla | In response to the USFDA warning letter for its Pithampur unit, the drugmaker on Thursday said that it preceives no material risk to its existing commercial product portfolio. It further said that the company is in the process of executing its de-risking plan for its new products and simultaneously address the observations expeditiously. Cipla is in process of submitting the requisite response to the warning letter within the stipulated timelines.
IHCL, stocks to watch, top stocks
Indian Hotels | The Tata Group hospitality firm on Thursday said it has invested ₹55 crore in Genness Hospitality and ₹35 crore in Qurio Hospitality via a rights issue. Genness Hospitality, incorporated on February 1, 2022, for a greenfield project (Vivanta Hotel) in Ekta Nagar, Gujarat, is presently under development.
jsw steel, jsw, jsw usa, jsw steel usa, jsw steel, ohio rail development commission, ordc, ordc jsw steel usa, jsw steel ordc, jsw steel ordc assistance, jsw steel projects,
JSW Steel | The Sajjan Jindal-led company on Thursday said the company has successfully completed its approved strategic investment of ₹750 crore in JSW Paints Private Ltd. JSW Steel now holds 12.84% stake in JSW Paints.
Lupin | Received approval from the United States Food and Drug Administration for its Abbreviated New Drug Application concerning Bromfenac Ophthalmic Solution, 0.07%. This approval positions Lupin as the exclusive first-to-file entity for this generic equivalent of Bausch & Lomb Inc’s Prolensa Ophthalmic Solution, 0.07%.
PFC | Plans to raise 3,500 crore via unsecured, redeemable, non-convertible, non-cumulative, taxable bonds in the nature of debenture series 234. The bonds are rated AAA / Stable by CRISIL, ICRA and CARE Ratings. The bonds will have a face value of 1 lakh apiece.
NMDC | Lump ore prices fixed at 5,400 per tonne, while fines prices fixed at 4,660 per tonne. CNBC-TV18 had earlier reported about price hikes taking effect from Thursday.
L&T Finance Holdings | ADB to provide its first loan to the L&T ecosystem in the form a long-term loan worth $125 million to L&T Finance. L&T Finance to deploy the funds to support financing in rural and peri-urban areas in India particularly for women borrowers.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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BSE and NSE each fine IRCTC ₹5.4 lakh for missing independent director quota in Q2

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Shares of Indian Railway Catering and Tourism Corporation Ltd ended at ₹699.70, down by ₹0.30, or 0.043% on the BSE.

State-owned Indian Railway Catering and Tourism Corporation (IRCTC) on Thursday (November 23) said it has been slapped with fines totalling ₹5.4 lakh each by both the National Stock Exchange of India Ltd (NSE) and Bombay Stock Exchange (BSE) Ltd for the quarter ending September 2023.

The penalty is a consequence of the company not meeting the requisite number of independent directors, including an independent woman director, on its board during the specified quarter.

Also Read: IRFC To Adani Green: Multiple Indian companies fined by BSE, NSE for not having enough independent directors

The notices from NSE and BSE, dated November 21 and November 23, 2023, respectively, prompted a swift response from IRCTC. In emails dated November 22 and November 23, 2023, the company presented its case for a review of the fines.

IRCTC argued that being a government company, the authority to appoint directors, including independent directors, lies with the President of India, represented through the Ministry of Railways.

Furthermore, IRCTC stated that it consistently engages with the ministry for the appointment of the required number of independent directors, including an independent woman director. The matter is currently pending at the government level.

Also Read: India’s largest cement manufacturer is interested in Kesoram’s cement assets: Exclusive

This is not the first instance of IRCTC receiving such notices. In the past, similar letters were received, and the company’s requests for waivers were favourably considered by the exchanges.

Shares of Indian Railway Catering and Tourism Corporation Ltd ended at ₹699.70, down by ₹0.30, or 0.043%, on the BSE.

Also Read: JSW Steel successfully completes ₹750 crore strategic investment in JSW Paints

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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IRCTC e-ticket booking resumes after temporarily outage

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Shares of IRCTC were trading 0.029% higher at ₹700.20 apiece on the NSE during Thursday’s afternoon deals. The railway stock has gained 9% since the beginning of this year, while it has declined 3% in the last one year. Market cap of IRCTC climbed to ₹56,160 crore.

State-run IRCTC’s (Indian Railways Catering and Tourism Corporation) e-ticket booking services resumed hours after it was affected due to technical glitches on Thursday. The India Railways’ catering arm had said that technical team is working on it and the online booking will be made available soon.

Taking to Twitter, IRCTC said: “E ticket booking has been resumed at 13:55 hrs.”

Earlier, a downtown message on IRCTC’s website read: “DUE TO MAINTENANCE ACTIVITY E-TICKETING SERVICE IS NOT AVAILABLE. PLEASE TRY LATER. FOR CANCELLATION/FILE TDR, PLEASE CALL AT CUSTOMER CARE NO. 14646,0755-6610661 & 0755-4090600 OR MAIL AT etickets@irctc.co.in.”

Shares of IRCTC were trading 0.029% higher at 700.20 apiece on the NSE during Thursday’s afternoon deals. The average daily volume for IRCTC stood around 12 lakh. Market cap of IRCTC climbed to 56,160 crore.

The IRCTC stock hit a 52-week high of 758.1 on September 8, 2023 and a 52 week low of 557.15 on March 29, 2023.

The railway stock has gained 9% since the beginning of this year, while it has declined 3% in the last one year.

In terms of technicals, the 14-day relative strength index (RSI) of IRCTC stood at 57.6, signaling it’s trading neither in the oversold nor in the overbought territory. IRCTC stock has a one-year beta of 0.2. This signals the stock has very low volatility. The large cap stock is trading higher than the 5 day, 10 day, 20 day, 50 day, 100 day and 200 day moving averages.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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IRCTC Q2 results: Net profit soars 30% to ₹295 crore; declares interim dividend

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

While announcing September quarter results, the Board of IRCTC has declared an interim dividend of ₹2.50 per equity share for the financial year 2023-24. This is 125% of the paid-up share capital amounting to ₹160 crore. The record date for the same has been fixed as November 17, 2023.

Indian Railway Catering and Transportation Corporation (IRCTC) on Monday, November 7, declared an interim dividend of 2.50 per equity share for the financial year 2023-24. This represents 125% of the paid-up share capital amounting to 160 crore.

The record date for the purpose of payment of the interim dividend has been fixed as November 17, 2023, the company said in a filing while announcing its September quarter (Q2FY24) results.

The catering arm of the Indian Railways reported a 30% year-on-year (YoY) rise in standalone net profit at 295 crore for the quarter ended September 2023. The company had reported a net profit of 226 crore in the year-ago period.

The platform company’s revenue from operations in the quarter under review spiked 23% on-year to 995 crore, compared to 806 crore in the same period a year ago.

Sequentially, the profit rose 27% in the second quarter from 232 crore reported in the previous June quarter. Revenues were flat quarter-on-quarter.

IRCTC’s EBITDA or earnings before interest, taxes, depreciation and amortisation rose 20% on-year to 366.5 crore from 304.9 crore in the same quarter a year ago. The EBITDA margin stood at 36.8% as against 37.8% in the September quarter of last fiscal.

Segment-wise biz performance

While all segments of IRCTC performed strongly on a YoY basis, the state teertha segment had a stellar quarter.

Sales from state teertha climbed 119% on-year to 64.84 crore in the quarter under review from 29.62 crore in the year-ago quarter.

Internet ticketing sales rose 9% YoY to 327.50 crore as the company saw robust railway ticket sales in the quarter as travelling picked up. The same was 300 crore in the corresponding quarter of last fiscal.

Catering, which is the second-largest revenue contributor, saw its sales rise 29% on-year to 431.5 crore in the reported quarter.

Sales for the tourism segment jumped 39% to 96.55 crore in the second quarter of this fiscal.

The company’s board has also approved the formation of a wholly-owned subsidiary (WOS) for IRCTC I-Pay business, subject to the approval of Registrar of Companies and other appropriate authorities.

IRCTC to move from largecap to midcap?

The IRCTC stock can move from the large-cap category to the mid-cap category during the upcoming semi-annual categorisation of stocks by the Association of Mutual Funds in India (AMFI) in January 2024, according to Nuvama Quantitative and Alternative Research.

READ HERE: IRFC, Suzlon shares among likely large-cap, mid-cap entrants in AMFI Jan rejig

Apart from IRCTC, stocks including UPL, Hero MotoCorp, Adani Wilmar, PI Industries, Bosch, Tube Investments and Samvardhana Motherson, can move to the mid-cap category from large-cap category, according to Nuvama’s analysis.

IRCTC shares on Tuesday closed 1.68% higher at 682.75 apiece on the NSE. The scrip gained 6.29% so far this year, while it fell 10.31% in the last one year.

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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IRCTC responds to viral video of rats in LTT Madgaon Express train pantry

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

A viral video revealed a rat infestation in the LTT Madgaon Express pantry car, raising concerns about food safety during train journeys.

A viral video shared on Instagram by user Mangirish Tendulkar exposed a rat infestation in the pantry car of the LTT Madgaon Express, raising concerns about food safety during train journeys. The video shows two rats eating out of a bowl in the pantry car of the train at the station.

On the night of October 15, Tendulkar, a self-identified “railfan,” captured the rats in the pantry car of the Mumbai-Madgaon train while travelling with his family. Tendulkar’s efforts to seek help from the Railway Protection Force (RPF) and station authorities were met with disheartening responses, as detailed in his Instagram post.

“This is such a rude shock for me as a railfan and as a train traveler… Are we not entitled to have a good and safe food during our journey??????” Tendulkar wrote, sharing his grievance.

In his post, Tendulkar mentioned that an official from the railways dismissed his concerns, citing hundreds of rats beneath the tracks, making a few in the pantry car seemingly insignificant. Despite this, Tendulkar reached out to the Assistant Station Master (Commercial), Meena, who informed him that the pantry car was already infested with rats, leaving little room for improvement. He also claims to have lodged a grievance on the Rail Madad app, seeking action against the irregularities and was assured by a Rail Madad executive that IRCTC would be penalised.

The video was subsequently shared on X (formerly Twitter) by Indian Tech & Infra to whom the Indian Railway Catering and Tourism Corporation (IRCTC) finally replied.

IRCTC, in response to the widespread outrage on social media, assured the public via X (formerly Twitter) that they were taking the matter seriously. They reported that pantry car staff had been educated on hygiene and cleanliness, and measures were being put in place for effective pest and rodent control.

“The matter is viewed seriously and suitable action has been taken. Pantry Car Staff have been sensitised to ensure hygiene and cleanliness in the pantry car. The concerned have been suitably advised to ensure effective pest and rodent control measures which is being ensured,” IRCTC wrote.

These incidents come soon after reports from Mumbai of restaurants such as Bademiya and Papa Pancho da Dhaba having rats and cockroaches in their kitchens.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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IRCTC ties up with Zomato for delivery of pre-ordered meals, lines up Navratri treats

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

As of now, passengers will be able to avail Zomato’s service in only five railway stations — New Delhi, Prayagraj, Kanpur, Lucknow and Varanasi

In order to expand food service options for customers, Indian Railways Catering and Tourism Corporation (IRCTC) has tied up with food delivery app Zomato for the delivery of pre-ordered meals, it informed in an exchange filing. As of now, passengers will be able to avail Zomato’s service in only five railway stations.

“This is to inform that in view of widening the range of options available to rail passengers for ordering food of their choice under IRCTC’s E- Catering segment, IRCTC has tied up with M/s. Zomato Limited for supply and delivery of pre-ordered meals through IRCTC’s E-catering portal as a Proof of Concept (PoC) in the first phase at five Railway stations i.e. New Delhi, Prayagraj, Kanpur, Lucknow & Varanasi,” it said in an exchange filing.

Ahead of the festivities, the railway catering service is coming up with special services and offers for its passengers. IRCTC’s catering arm has announced special Navratri thalis looking at the special demand of fasting passengers.

Also Read:View | The True Story: India’s Global Hunger Index rank is 48, not 111

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
Start Quiz Now
Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?