The Mini Ratna travel and tourism PSU company has also launched other offers with discounts of up to Rs 2,000 off air tickets on card transactions of different banks, the company filing to the exchanges said.
“IRCTC will not be charging any convenience fees to the customers booking international as well as domestic flight tickets on its website from 25th to 27th September. Customers can avail the offer by booking their tickets through IRCTC’s air ticketing portal www.irctc.co.in as well as IRCTC Air mobile app,” the company said in an exchange filing.
Its IRCTC Air app is also offering defense fares and leave travel concession (LTC) tickets for government officials along with travel insurance of Rs 50 lakhs for every air ticket booked through its portal, the filing said.
Today’s gains break a five-session falling spree witnessed in the stock, during which time IRCTC corrected 5%. The news triggered a buying action in the stock as nearly 30 lakh shares were trading on the NSE around 12:40 p.m.
The stock has appreciated by 24% from its 52-week low of Rs 557.10 which it hit in March this year. The railway stock has been a market underperformer with gains of just over 3% in the past 12 months against 15% by the Nifty.
The stock is trading above its 50-day and 200-day Simple Moving Averages (SMAs) though momentum indicators RSI and MFI hint at further upside in the stock. While the former is at 42.8 according to Trendlyne data, the latter is hovering near 66. A number above 70 indicates that the stock is trading in an overbought zone, while below 30 suggests it is trading in the oversold territory. IRCTC offers multi-modal transport ticket booking facilities for customers including railways, roadways, and air, and has a dedicated International Air Transport Association (IATA) certified website.
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