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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.

India News

After 40 hours, rescue operation continues to save 2.5-year-old girl stuck inside 300 ft deep borewell in Madhya Pradesh

On Tuesday, at around 2:45 PM, when Srishti while playing in the neighbour’s field. fell inside the borewell which was lying open.

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MP Girl borewell

On Thursday, after 40 hours, rescue operation continues to pull out the 2.5-year-old girl who fell inside a 300-feet deep borewell in Madhya Pradesh’s Sehore.

A borewell rescue robot team has arrived at the spot to save the girl.

On Tuesday, at around 2:45 PM, when Srishti while playing in the neighbour’s field. fell inside the borewell which was lying open.

The administration was immediately informed after which officials rushed to the spot to undertake the rescue operation, which is in continuation since then.

The incident took place in Mungaoli Village in Sehore, MP.

As per the Sehore District Collector, Srishti was stuck at a depth of 20-feet but slid down further 50-feet as the efforts for her rescue continued. While reports said, she slid further down and is stuck at 110-feet.

The Army, NDRF and SDRF teams have been in force since Tuesday, for pulling Srishti out.

A team of experts from Rajasthan and Delhi have also been called to help out in the operation to save the girl.

Madhya Pradesh Chief Minister Shivraj Singh Chouhan who belongs to the same district, has taken stock of the situation and has direceted for Srishti’s safe evacuation.

Srishti is the daughter of Rahul Kushwaha and Rani Kushwaha. Oxygen was sent down the borewell with the help of a pipe on Tuesday. Cameras were also sent inside to monitor the situation.

Ambulance along with a team of doctors are on stand-by at the spot.

Rani said, about 50 m away from the house, their neighbor Nannu Lal had dug a borewell about three months ago but it was a failed attempt and the hole was left unattended.

In a similar incident, 4 days back a 2-year-old girl in Gujarat’s Jamnagar fell inside a 200 feet-deep borewell, who was pulled out after a massive operation of 19 hours but was declared dead.

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Arvind Kejriwal to inaugurate East Delhi campus of the Guru Gobind Singh Indraprastha University tomorrow in the latest bout of Delhi Govt, Centre fight

The Aam Aadmi government had made an announcement that Kejriwal would inaugurate the East Delhi Campus of the Guru Gobind Singh Indraprastha University (GGSIPU) on June 8, while Delhi Lieutenant Governor VK Saxena’s office has stated that it had already been decided that the LG would do the inauguration.

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Arvind Kejriwal to inaugurate East Delhi campus of the Guru Gobind Singh Indraprastha University tomorrow in the latest bout of Delhi Govt, Centre fight

The tension between the Aam Aadmi Government and the Centre is increasing day by day. The latest dispute is related to the inauguration of the East Delhi Campus of Guru Gobind Singh Indraprastha University, Delhi.

The Aam Aadmi government had made an announcement that Kejriwal would inaugurate the East Delhi Campus of the Guru Gobind Singh Indraprastha University (GGSIPU) on June 8, while Delhi Lieutenant Governor VK Saxena’s office has stated that it had already been decided that the LG would do the inauguration.

The note from the LG’s office read, CM was invited as the guest of honor and Delhi Education Minister Atishi Marlena was a special guest. The statement further read, the inauguration had been scheduled to happen on May 23 but was postponed to June 8 due to a request from Kejriwal.

AAP leader Saurabh Bhardwaj responded, saying the LG should inaugurate Police stations and Delhi Development Authority sports complexes, but education and higher education are state subjects.

He further added he could not believe that the officials had told the LG about the inauguration.

He joked that the LG could even tell his officials that he wanted to inaugurate Saurabh Bhardwaj’s office. He also said this was the primary reason why the LG had kept the control of bureaucrats and also why he wants the power to remain with him.

The new campus of GGSIPU was conceptualized in 2013. Its foundation stone was laid on December 14, 2014, by then HRD Minister Smriti Irani. Even after the AAP came to power in February 2015, no major decision had been taken.

As per reports, GGSIPU itself funded the construction of the campus at a cost of Rs 387 crore, of which the Delhi government’s share was 41 crore. This amount was paid in three installments, the last of which was released on June 5.    

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Zomato takes down Kachra ad after flak for being casteist, BoycottZomato trends

A comparison between Kachra (trash) and the outcast character in the film Lagaan, which was released in 2001, was made by Zomato.

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Zomato ad campaign

Zomato, the food delivery brand, recently got into trouble after their new Kachra ad campaign which has now sparked controversy across the internet.

The campaign’s tagline, Don’t waste food, Don’t’ be Kachra, was displayed alongside a series of advertisements presenting left-over food in an effort to promote cleanliness and decrease food waste.

The campaign, which was released on June 5 on the occasion of World Environment Day, aimed to increase awareness of the burden that plastic waste has on the environment and to highlight how many kilograms of waste is used to produce even the most basic items. For example, a paperweight requires 3-4 kg of recycled waste, while hand towels require 9-12 kg.

The Zomato advertisement showed how the company chooses to deliver food without using any plastic, therefore protecting the environment.

A comparison between Kachra (trash) and the outcast character in the film Lagaan, which was released in 2001, was made by Zomato. The advertisement also featured the actor, Aditya Lakhiya, who played the character of Kachra in the film Lagaan. Given the larger backdrop of commercial entertainment in India, some users said, Kachra’s character in Lagaan had a contextual meaning.

The actor was presented in a variety of contexts, including as a recycled hand towel, a similar flower pot and paper.

However, the campaign failed to connect with the audience and received criticism for its insensitive approach and was referred to as a casteist idea on various social media platforms.

Users have now flooded the internet with their criticism, expressing their dissatisfaction towards the ad. Twitter is filled with #BoycottZomato.

One user wrote, Zomato’s Kachra advertisement was not an accident, rather, it was a planned and intentional act that may have been approved by the company’s senior management. The user went on to criticise Zomato, labeling it as having casteist ideas. While another said, Zomato’s highly casteist campaign can be attributed to a lack of diversity.

https://twitter.com/peeleraja/status/1666418206146453504?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1666418206146453504%7Ctwgr%5Ea3fbc40e5966d35dcdf822dbbbc0be015493ca21%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.livemint.com%2Fnews%2Findia%2Fzomatos-kachra-campaign-draws-ire-of-netizens-11686188672827.html

However, the company informed in a Tweet about the advertisement being pulled down after the flak by the users and justifying its campaign wrote, on the occasion of World Environment Day, its intent was to aware the audience about the alternative usage of plastic waste and its recycling in a humorous way but unfortunately it hurt the sentiments of some individuals and community.

To this decision of Zomato taking the campaign back, it again received crticism from the users, while some called it arrogance for not making any apology, while some were satisfied with the timley action by the company.

A user wrote, the usual day casteism was unfortunate and was happy with Zomato’s timely action by removing the advertisement.

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