Indian Railway Catering and Tourism Corporation (IRCTC) fell 1.62% to Rs 1907.50 after the company informed about the termination of all existing contracts of mobile catering.
In a regulatory filing made after market hours on Monday (1 March 2021), the company said that Ministry of Railways, in compliance of orders of High Court of Judicature at Madras, has directed IRCTC to terminate all existing contracts of mobile catering (currently kept in abeyance) involving scope of work of providing cooked food to passengers prepared from base kitchens as per the existing terms and conditions. The impact of the above directive is being assessed and will be informed to exchanges in due course, the company further said.
Indian Railway Catering and Tourism Corporation (IRCTC) rose 2.87% to Rs 1479.20, extending its winning run to second trading session.The stock rose 3.67% in two trading days from its previous closing low of Rs 1426.90 posted on 25 January 2021. IRCTC has surged about 91% from its 52-week low of Rs 774.85 hit on 26 March 2020. It hit a 52-week high of on Rs 1,995 on 25 February 2020.
IRCTC on Wednesday announced that it will restart operations for both pairs of IRCTC Tejas Trains (82501/82502 and 82901/82902) from 14th February 2021. The above mentioned trains are being fired for booking on IRCTC s website and IRCTC Rail Connect Mobile App. These trains will be running 4 days a week (Friday, Saturday, Sunday, Monday) and will be booked on full capacity of the coaches.