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IRCTC share price slips over 4% after Railways cancels tickets for journey within Maharashtra

BusinessToday.In     May 22, 2020

IRCTC share price fell over 4% in trade today after Railways cancelled special tickets of all passengers planning to travel within the state from June 1. Share price of IRCTC dipped 4.23% to Rs 1,400.70 against intra day high of Rs 1,460 on BSE today.

At 11: 45 am, the stock was trading 0.23% higher on BSE. However, the stock has gained 11.89% in last four days. The stock opened higher at 3.45% at Rs 1,449 today. IRCTC share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Market cap of IRCTC stood at Rs 22,784 crore on BSE.

The stock has gained 51.25% since the  beginning of this year. Passengers wanting to travel by trains within Maharashtra will not be permitted to do so. Inter district train travel within Maharashtra will not be allowed from June 1, the railways ministry said in a notification Thursday evening.

IRCTC share price gains 5% today, here's why

"Maharashtra government has informed Railways that inter-district travel is prohibited within the state of Maharashtra. It is therefore, desired that tickets of all the passengers whose originating and terminating stations fall within Maharashtra be cancelled and full refund be given without deduction of any cancellation charges. It is desired that till further orders, inter-state booking within Maharashtra should not be permitted." the notice read.

Tickets of passengers whose originating and terminating stations are in Maharashtra will be cancelled, the notification said.

IRCTC share price hits 5% upper circuit as 200 more trains to resume services

By Aseem Thapliyal

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