IRCTC share price runs out of steam after three sessions; here's why

IRCTC share price closed over 3% lower after Indian Railways cancelled all tickets booked for travel on or before June 30. Share price of IRCTC fell up to 3.82% to Rs 1,381 against previous close of Rs 1,436 on BSE. IRCTC share closed 3.27% or Rs 47 lower at Rs 1389.40. The stock climbed 15% in last three sessions after Indian Railways announced last week it would start operations of 15 passenger trains (30 return journeys) from May 12.

On May 8, IRCTC stock closed at Rs 1,241 on BSE. IRCTC stock closed at Rs 1,436 yesterday rising 5% each in last three sessions.

Lockdown 4.0: Railways' IRCTC cancels tickets for all trains till June 30; Shramik Specials to run

Total 1.91  lakh shares changed hands amounting to turnover of Rs 27.35 crore on BSE today. Market cap of the firm fell to Rs 22,418 crore. IRCTC share price has gained 50.75% since the beginning of this year.  The stock trades higher than 5 day, 50 day, 20 day, 100 day and 200 day moving averages.

IRCTC share price fell to Rs 815 in March this year during the worst month for stock market ever as coronavirus roiled global markets. Since then,the stock has rallied 70% due to value buying and recovery rally in benchmark indices.

The national transporter stated today that all Shramik Special trains and the special trains that started this week would ply as usual. All tickets for regular passenger trains, including mail/express and suburban services till June 30 have been cancelled. Refund for tickets booked till June 30 will be issued.

Indian Railways to start passenger trains from tomorrow; where, how to book, check out new rules

On May 10 (Sunday) Indian Railways said online booking for passenger trains would start on May 11 at 4 pm. The all air-conditioned services began on 15 Rajdhani routes -- from New Delhi to Dibrugarh, Agartala, Horah, Patna, Bilaspur, Ranchi, Bhubaneshwar, Secunderabad, Bengaluru,Chennai, Thiruvananthpuram, Madgaon, Mumbai Central, Ahmedabad and Jammu Tawi.

Booking facilities are available on the IRCTC website or through mobile app. Booking of tickets through 'agents', (both IRCTC and Railway) shall not be allowed. Ticket booking counters at the railway station are closed.

On October 14 last year, the Indian Railways firm made its stock market debut with IRCTC share listing at Rs 644 on BSE and Rs 626 on NSE.

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