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IRCTC share price falls 20 per cent after railway ministry withdraws convenience fee

IRCTC filed a regulatory filing on Thursday, in which they informed SEBI that the railways have said that the revenue-sharing arrangement would be enforced from November 1.

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Indian Railway

The Indian Railway Catering and Tourism Corp (IRCTC) share price has fallen by as much as 20 per cent and due to that, there is an intraday low of Rs 650.10 on the BSE. It is being said that the price has plunged after the railway ministry asked the company to share its revenue earned from convenience fees collected by IRCTC in the ratio of 50:50 from November 1, 2021.

The company in a press release said that it is to be informed that the Ministry of Railways has conveyed its decision to share the revenue earned from the convenience fees collected by IRCTC.

Earlier, the stock of IRCTC jumped by 20 per cent as it started trading ex-stock split. From Thursday onwards, IRCTC shares were split in the ratio of 1:5, which was sub-divided by the face value of the share from Rs 10 per share to Rs 2 per share.

As soon as the price of IRCTC started plunging, tweeple started creating a meme fest on social media.

One of the users wrote that IRCTC : Wo karna Chahte Grind
Operators : Mai bhi baitha masti may.

Another user wrote that Golmaal Hai Bhaai Sab Golmaal Hai.

https://twitter.com/narrenderr/status/1453963349855666177

Yet another wrote that The decision has been reversed. But what about those investors who sold their shares in the last two hours of trading? Clearly, the decision had not taken the “signalling effect” into account. Can’t play with listed companies like this!

Read Also: IRCTC to share 50% convenience fee from ticketing revenue with Railway Ministry

IRCTC filed a regulatory filing on Thursday, in which they informed SEBI that the railways have said that the revenue-sharing arrangement would be enforced from November 1. The company’s board of directors are going to meet on November 1 to consider and approve the unaudited financial results for the second quarter and the half-year ended on September 30, 2021.

2024 Lok Sabha Elections

Brij Bhushan Sharan Singh’s son Karan gets BJP Lok Sabha ticket from Kaiserganj

Karan Singh Bhushan was on December 13, 1990. He competed at the national level in double trap shooting. He has a daughter and a son. Karan Singh Bhushan completed his Bachelor of Business Administration (BBA) and law from Dr Ram Manohar Lohia Avadh University.

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BJP on Thursday dropped sitting Kaiserganj MP Brij Bhushan Sharan Singh, who has been accused of sexual harassment by women wrestlers and gave a ticket to his son, Karan Bhushan Singh. Karan Bhushan, Brij Bhushan’s younger son, is the president of the Uttar Pradesh Wrestling Association. He is also the head of The Cooperative Bank in Nawabganj in Gonda district.

Karan Singh Bhushan was on December 13, 1990. He competed at the national level in double trap shooting. He has a daughter and a son. Karan Singh Bhushan completed his Bachelor of Business Administration (BBA) and law from Dr Ram Manohar Lohia Avadh University.

He has also holds a diploma in business management from Australia. Karan Bhushan Singh is presently the president of the Uttar Pradesh wrestling association. Earlier he was the senior vice president of the UP wrestling association. Elections will be take place in Kaiserganj in the 5th phase of Lok Sabha elections on May 20. Karan Bhushan Singh is likely to file his nomination from Kaiserganj on May 3.

There has been a lot of speculation and suspense on Brij Bhushan Sharan seat this time as the former Wrestling Federation of India (WFI) chief, who is also a 6-term MP, had been accused of sexual harassment by some of the India’s top wrestlers.

Many female wrestlers, including medallists, protested against the BJP leader and demanded his arrest over the charges of sexual harassment while he was serving the position of the WFI president. Wrestlers, including Sakshi Malik and Bajrang Punia, sat on a protest at the Jantar Mantar and demanded action against the Kaiseganj MP.

The Delhi Police later registered a case against Brij Bhushan Sharan Singh under Sections 354 (assault or criminal force to woman with intent to outrage her modesty), 354D (stalking), 354A (sexual harassment) and 506 (criminal intimidation) of the IPC, on June 15, 2023. But he was granted bail on July 20, 2023.

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2024 Lok Sabha Elections

Rahul Gandhi criticises BJP, PM Modi for JD(S) alliance, seeking votes for a mass rapist

Rahul Gandhi was addressing an election rally in Karnataka’s Shivmogga where he said that PM Modi is seeking votes for a mass rapist. The Congress leader added that Narendra Modi, from a packed stage, supports that rapist and said: if the people of Karnataka vote for this rapist, it will help him.

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Congress leader Rahul Gandhi on Thursday said that the sex video  case involving Prajwal Revanna, the member of Parliament from Karnataka’s Hassan, is not just a mere sex scandal but of mass rape. He also criticised the BJP and Prime Minister Narendra Modi for the JD(S) and seeking votes for a mass rapist.

Rahul Gandhi was addressing an election rally in Karnataka’s Shivmogga where he said that PM Modi is seeking votes for a mass rapist. Prajwal Revanna raped a number of women and made their sex videos. The Congress leader added that Narendra Modi, from a packed stage, supports that rapist and said: if the people of Karnataka vote for this rapist, it will help him. Gandhi accused PM Modi of helping Revanna (former PM HD Deve Gowda’s grandson) escape from India.

Gandhi said even when Prajwal Revanna raped a number of women, the prime minister did not stop him from going to Germany. He said Prime Minister Narendra Modi has all the machinery, yet he allowed the mass rapist to flee to Germany. He took a sarcastic dig at PM Modi and said this is Modi’s guarantee. The Congress leader asserted that whether it’s a corrupt leader or a mass rapist, the BJP will always protect him.

Prajwal Revanna, the sitting MP from Hassan and the grandson of former PM HD Deve Gowda, has been accused of being in purported sex tapes. A number of pen drives allegedly contain his sexual assault videos which were circulated in Hassan, the Lok Sabha constituency from where he is the BJP-JD (S) candidate.

Most of the sex videos were recorded by Prajwal Revanna in his office and house. Initially, the Gowda family and the BJP termed the tapes as being doctored to tarnish the image of the family in elections but later, HD Kumaraswamy distanced himself from the tapes and said the police is investigating the matter.

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India News

SIT issues lookout notice for Prajwal Revanna in sex video case

A police officer, who is part of the SIT, confirmed to the media that a lookout circular has been issued at all the immigration points to detain Prajwal Revanna, said to be in Germany, as soon as he enters the country.

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The Special Investigation Team (SIT), probing the sex tapes case involving JD(S) Lok Sabha candidate Prajwal Revanna, on Thursday issued a lookout notice against him. The notice was issued at all immigration points all over the world. The development comes as Revanna allegedly fled to Frankfurt, Germany on April 26, as a huge cache of explicit videos and photographs showing him indulging in the sexual abuse of several women went viral on social media platforms.

Prajwal Revanna is the grandson of former prime minister and JD(S) patriarch HD Deve Gowda and son of former minister HD Revanna, is seeking re-election from Hassan on the JD(S) ticket. The JD(S) MP faces sexual assault charges and has sought 7 days to appear before the Special Investigation Team probing the matter.

Prajwal Revanna and his father, DD Revanna have been issued notices to appear before the SIT for questioning. The Hassan MP informed the SIT team that he is currently outside Bengaluru. A case has been registered against both HD Revanna and his son Prajwal Revanna at Holenarasipura based on a complaint lodged by their former cook and relative for sexually harassing her.

She alleged that Prajwal Revanna made video calls to her daughter and spoke in an objectionable manner, which forced her to block his phone number. The FIR was referred to the SIT, led by BK Singh, Additional Director-General of Police, Criminal Investigation Department, formed to probe the alleged sex scandal involving Prajwal Revanna, after many explicit videos were circulated on social media.

The National Commission for Women (NCW) has demanded a comprehensive report within 3 days from the Karnataka Police regarding allegations of sexual misconduct against Prajwal Revanna. The NCW expressed grave concern over the circulation of a number of obscene videos on social media, which showed Prajwal Revanna sexually assaulting number of women.

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