Indian Railways Will Open 1.7 Lakh Booking Counters, Run More Trains; IRCTC Shares Up By 5%

After announcing that 200 trains will run from June 1st, and starting online bookings of the tickets, Indian Railways has now announced that 1.7 lakhbooking counters of Railways will be opened, in the next 2-3 days.

The positive news coming in from Railways has encouraged investors to buy more stocks of IRCTC, and as a result, the prices of these stocks are up by 5%.

Indian Railways Will Open 1.7 lakh Counters

Railway Minister Piyush Goyal has informed that Railways will open all 1.7 lakh counters at common service centres, across the country.

This will enable everyone to book train tickets and especially those, who cannot use online mediums to book the tickets.

These 1.7 lakh counters also include the booking counters at railways stations.

The minister has also informed that more trains will be run, besides the 200 trains which has been announced to run from June 1st. 

Shops inside railways stations will be allowed to open and do business, but no takeaway food items will be allowed to sell. More details are awaited on this regard.

Ever since the online bookings were opened, more than 1,78,990 tickets having 4,23,538 number of passengers have been booked for the special trains running from June 1st. In most of the trains, waiting list has already started appearing. 

IRCTC Shares Up By 5%

After the news of trains resuming from June 1st came in, IRCTC stocks prices have increased. IRCTC is the $3 billion catering and ticketing behemoth for Indian Railways. Their IPO was launched few months back.

Yesterday, their stock prices hit the upper circuit set by stock exchange, which is 5% of the value of the stock.

By allowing trains to be run, Indian Railways will earn revenues, and also generate employment opportunities, a stream of revenues for vendors, subcontractors and other entities.

We will keep you updated, as more details come in.