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IRCTC Stock Surges Amid Passenger Fare Hike News
23 Dec
Summary
- IRCTC shares saw a nearly 1% increase on the BSE.
- The rise was prompted by Indian Railways' fare hike decision.
- Passenger train fares will increase from December 26.
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) saw a notable increase of almost 1% on the BSE during morning trade on December 23. This positive movement in the railway stock occurred within an otherwise subdued market, highlighting investor reaction to an important policy change.
The primary driver for IRCTC's share price rise was the announcement by Indian Railways regarding an upcoming increase in passenger train fares. This fare adjustment will be applied across all classes, signaling a significant shift in pricing for rail travel.
The new passenger train fares are scheduled to be implemented starting December 26. While the IRCTC stock initially opened higher and reached an intraday peak, it later pared some of its gains, trading slightly up as the broader market, represented by the Sensex, showed minimal change.
