Railways revise meal prices; Stock jumps

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) witnessed a surge of 4 per cent after the Ministry of Railways revised tariff of standard meals at all static units across Indian Railways’ network.

In the BSE exchange filing, the IRCTC informed that the Railway Board has examined the revised tariff. Post this, the share price of IRCTC gained over 2 per cent when the market opened early on Tuesday, however, by noon, the stock price increased by 4 per cent.   

Nevertheless, Indian Railways and IRCTC will conduct an intensive inspection from time to time in order to ensure that the food served is good in quality as well as hygienic post increased tariff.

Meanwhile, the company has also signed a Memorandum of Understanding (MoU) with Hotel and Restaurant Association of Northern India (HRANI) for listing the association’s member hotels and their room rate inventory for sales on the IRCTC portal.

At 12.53 pm, the stock of IRCTC was trading at Rs 887.30, up by 2.64 per cent or Rs 22.80 per share.