IRCTC Convenience Fee : There is news of relief for Indian Railway Catering and Tourism Corp (IRCTC). The Ministry of Railways has withdrawn its decision to charge the convenience fee from the company. Tuhin Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) has given this information by tweeting.
IRCTC shares fell by Rs 274
In fact, IRCTC had earlier informed that the Ministry of Railways has conveyed the decision to share the revenue earned from the convenience fee collected by IRCTC with the Ministry of Railways in the ratio of 50:50 with effect from November 1, 2021. After this announcement of the company, as soon as the stock market opened on Friday morning, a huge sell-off started on IRCTC’s stock, due to which IRCTC’s stock fell by 20 percent after the Lower Circuit. The share of IRCTC reached Rs 639.45, down by Rs 274 from yesterday’s closing rate of Rs 913.50.
IRCTC takes over after DIPAM secretary
However, after the tweet of the Secretary of DIPAM, the recovery of IRCTC was seen and now it is trading at 866 with a decline of only 5.27 percent.
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