IRCTC Shares Crash After Railways Announces Suspension of Trains

Indian Railway Ministry announced train suspensions in the country till 12 August

Published26 Jun 2020, 08:28 AM IST
Business
1 min read

A day after the Indian Railway Ministry announced train suspensions in the country till 12 August, in the wake of the growing number of COVID-19 cases, the Indian Railways Catering and Tourism (IRCTC) share price crashed over 3 percent in early trade on Friday, 26 June.

According to a report by Business Insider, the booking platform witnesses a sharp decline in sales during the lockdown period imposed by the Centre from 24 March but sales had been declining before the lockdown as well.

Regular time-table passenger train services including mail/express, passenger and suburban services have been cancelled till 12 August, a circular by the Railways Board said.

According to the circular, special Rajdhani, and special mail/express train services which were started from 12 May and 1 June, respectively, will continue to operate.

"... All the tickets booked for the regular time-table trains for the journey date from 1 July to 12 August also will be cancelled and full refund generated," the circular further read.

In another circular, the Railways said that “all tickets booked for the regular time-table trains for journey from 1 July to 12 August may be cancelled and full refunds generated.” “The special mail/express trains shall continue to be operated,” it added.

We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.

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