Every day, around 14.5 lakh tickets are booked on Indian Railways, and IRCTC, with an 81 percent share of this, senses no danger from any peer group, the online ticket booking platform said in an exchange filing on Monday.
Adani Digital Labs, a fully owned subsidiary of Adani Enterprises, said on June 16 that it will buy a 100 percent investment in Spark Enterprises, which owns the Trainman app, which accounts for 0.13 percent of total reserved ticketing in railways.
Its (Trainman's) acquisition by any other agency will not affect the application of the existing B2C policy," IRCTC stated, assuaging fears that it will face competition from Adani Digital Labs.
Trainman is one of the agencies with whom IRCTC has collaborated under the business-to-business, business-to-consumer, and e-governance initiatives to expand its reach.
At 10.59 a.m. on the National Stock Exchange (NSE), the IRCTC stock was trading at Rs 665.15, up 0.10 percent. In FY23, IRCTC's revenue increased by 87 percent to Rs 3,661 crore, while its net profit increased by 51 percent to Rs 1,005 crore.
The stock had a 52-week high of Rs 774.90 and a low of Rs 557. The stock has increased by 3.68 percent since the beginning of the year.
