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

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The Indian Railway Catering and Tourism Corporation (IRCTC) on Thursday announced that the company will now share half of its revenues earned from convenience fees with the Railway Ministry.

The IRCTC charges a convenience fee on every online booking. This is one of the key revenue for the company, fetching around Rs 620 crore for the Fiscal Year 2020.

Among other details, the IRCTC in today’s regulatory, has informed that the revenue-sharing arrangement would be enforced from November 1.

The Ministry of Railways is scheduled to announce its quarterly results for the second quarter on November 1. In the previous quarter, it had reported a 23% decline in net profit on a year-over-year basis at Rs 103.8 crore. Additionally, revenue had short fallen 41.2% on a year-over-year basis at Rs 338.8 crore.

This was because of the travel ban across the country during lockdowns and Covid second wave. However, the Railway ticketing business grew 9.5% on a year-over-year basis to Rs 212 crore in the March-end quarter.

The IRCTC is the only entity authorised by the Indian Railways to provide catering services, online tickets and packaged drinking water at railway stations and inside trains.

The IRCTC share rallied to a high of around Rs 6,400 on October 19 and then collapsed to below Rs 4,000 over the next couple of trading sessions that led the rumours of the appointment of a regulator for the railways.

With the closing price of Rs 923 after the 5:1 stock split, the stock is still down roughly 30% from its record high on Thursday.

As of 12:16 pm today, the IRCTC shares traded 17% higher at Rs 966, outperforming the Sensex which was down to 15. The company shares were trading up 15% at Rs 938.80 at 11.06 am. At 10.16 am, IRCTC was quoting at Rs 920.00, up to Rs 94.20, or 11.41 percent, on the BSE.

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Vijay appoints astrologer Radhan Pandit as OSD, sparks criticism from allies

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Actor vijay

Tamil Nadu Chief Minister C. Joseph Vijay has appointed astrologer and TVK spokesperson Radhan Pandit Vettrivel as Officer on Special Duty (OSD) to the Chief Minister, a move that has sparked criticism from allies and opposition leaders.

Radhan Pandit, who had publicly predicted a major electoral victory for Vijay and the Tamilaga Vettri Kazhagam (TVK) ahead of the 2026 Tamil Nadu Assembly elections, has been considered a close aide of the Chief Minister during the party’s election campaign.

The appointment drew sharp reactions from leaders within the Congress and Left parties. Congress MP Sasikanth Senthil questioned the decision in a post on X, asking why an astrologer required an OSD position in government.

Leaders from the Viduthalai Chiruthaigal Katchi (VCK) and CPI(M) also criticised the move, arguing that such appointments go against the principles of scientific temper and secular governance.

According to reports, Radhan Pandit was among the first people to visit Vijay’s residence after TVK’s strong performance in the assembly elections. He has also been associated with the party as a spokesperson and political commentator.

The controversy comes amid rapid political developments in Tamil Nadu following the formation of the new TVK-led government.

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Maharashtra opposition seeks all-party meeting over PM Modi’s austerity appeal

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Sharad Pawar

Maharashtra opposition parties on Tuesday demanded an all-party meeting after Prime Minister Narendra Modi appealed to citizens to adopt austerity measures amid rising concerns over the ongoing West Asia crisis.

The prime minister recently urged people to avoid non-essential gold purchases, reduce petrol and diesel usage, postpone foreign travel and consider work-from-home practices to help minimise the economic impact of global uncertainty.

Leaders from opposition parties in Maharashtra said the Centre should hold detailed discussions with political parties and explain the broader economic situation to the public. They raised concerns over the possible impact of geopolitical tensions on fuel prices, inflation and the overall economy.

Some opposition leaders also questioned the timing of the austerity appeal, saying citizens deserve greater clarity on the government’s plans to tackle any economic challenges arising from the crisis in West Asia.

Meanwhile, BJP leaders defended the prime minister’s remarks, describing them as precautionary steps aimed at reducing pressure on foreign exchange reserves and controlling inflationary risks linked to global supply disruptions.

The debate comes as concerns grow globally over energy supplies and rising crude oil prices due to tensions in West Asia.

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India has 69 days of crude oil and LNG reserves, 45 days of LPG stock, says Hardeep Puri amid West Asia crisis

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Hardeep singh puri

India has sufficient fuel reserves and there is no supply shortage despite the ongoing conflict in West Asia, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said on Tuesday.

Addressing the CII Annual Business Summit, the minister said the country currently has crude oil and LNG reserves that can last for 69 days, while LPG stocks are sufficient for 45 days.

Puri also said LPG production has been increased from around 35,000-36,000 tonnes per day to nearly 54,000 tonnes per day to ensure uninterrupted supply during the ongoing geopolitical tensions in West Asia.

The minister dismissed fears of any immediate restrictions or disruption in fuel availability and said there is “no supply issue” in the country.

His remarks came after Prime Minister Narendra Modi urged citizens to reduce unnecessary fuel consumption and avoid non-essential foreign travel to help conserve foreign exchange reserves amid rising global energy prices linked to the West Asia conflict.

The government has also said there are no plans for fuel rationing and that India’s energy supply position remains stable.

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