Friday, April 19

Tag: indian railways

IRCTC IPO Jumps 101 pc in debut Trade
14Oct By AdityaNo Comments
Market

IRCTC IPO Jumps 101 pc in debut Trade

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) zoomed over 101 percent in debut trade on Monday against its issue price of Rs 320. It listed at Rs 644, reflecting a huge jump of 101.25 percent as compared to the issue price on the BSE. On the NSE, it skyrocketed 95.62 percent to Rs 626 in opening trade. The company's market valuation stood at Rs 10,972 crore in the morning trade. The initial public offering of IRCTC was a huge hit among investors, subscribed 111.91 times earlier this month. The Rs 645-crore IPO was in a price range of Rs 315-320 per share. IRCTC is the only entity authorized by Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.
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Now Check PNR And Live Train Status Via WhatsApp
25Jul By AnkitaNo Comments
News

Now Check PNR And Live Train Status Via WhatsApp

Good News! Now the passengers can check their train and live train status online via WhatsApp. Appreciation to Indian Railways, the passengers can check the train running status through WhatsApp, and make provisions beforehand. Indian Railways have come to terms with MakeMyTrip, a travel company headquartered in Gurugram, Haryana, to let the users check online train status using WhatsApp. MakeMyTrip has a WhatsApp feature which provides passengers with information on live train status, PNR status, emerging railway station, departed railway station etc. Considering the popularity and massive user base of WhatsApp, the messaging app owned by Facebook is likely to cater its railway services to a large number of people across the country. Also, the feature reduces passenger’s dependence ...
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Indian Railways to Use Drones Developed By IIT-Roorkee
23Jun By Lavina TolaniNo Comments
News

Indian Railways to Use Drones Developed By IIT-Roorkee

Indian Railways is very soon starting deployment of drones to monitor rail tracks, a step that will help national transporter focus on the safety aspect. According to the reports, under an initiative of the telecom industry and the railways, IIT Roorkee has developed drones which are currently being tested on the tracks around the Uttarakhand town. Anurag Vibhuti, deputy director of TCOE India said, The Indian Railways is in the advanced stages of considering deploying unmanned aerial vehicles to monitor rail tracks using the technology developed by IIT-Roorkee. Notably, Telecom Centres of Excellence abbreviated as TCOE is a public-private telecom body under which RailTel Corporation( railways’ broadband services arm) has partnered IIT-Roorkee to develop the drones that will help auto...
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Railway PSU RITES aims for $550 Mn valuation in IPO
12Jun By Lavina TolaniNo Comments
Market

Railway PSU RITES aims for $550 Mn valuation in IPO

The public sector undertaking (PSU) of Indian Railways, RITES is looking forward to Rs. 3700 crore valuation in its initial public offering slated for June 20-22. RITES, which is a state-owned railway consultant has designated a price band of Rs. 180-185 apiece resulting in an IPO size of Rs 466.20 crore. Additionally, there is a Rs. 6 discount that will be given to retail investors and eligible employees. According to the sources, the proposed IPO will involve a sale of 25.2 million shares by the government which also includes the stock reserved for the employees. Meanwhile, another news is ongoing rounds regarding RITES likely to acquire around 25 per cent stake in Indian Railway Stations Development Corporation (IRSDC), the nodal agency for the redevelopment projects. The gover...
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Reliance Debuts in Railway, Bags Contract Worth Rs 774 Crore
19Apr By Lavina TolaniNo Comments
BUSINESS

Reliance Debuts in Railway, Bags Contract Worth Rs 774 Crore

Reliance Infrastructure Limited EPC has successfully bagged the Letter of Award (LOA) from Rail Vikas Nigam Limited (RVNL) for its new railway project worth 774 crores. The project is aimed at the construction of third rail line between Jimidipeta and Gotlam on East Coast Railway on Engineering, Procurement and Construction (EPC) basis, revealed the company on Thursday. It will also undertake construction of 13 railway stations and staff quarters while including work in track, electrification, civil, telecom and building the rail line that will run in Andhra Pradesh and Odisha. Arun Gupta, CEO, Reliance Infrastructure EPC, said, RInfra shares a good credential in the successful execution of complex EPC projects, especially in railway and metro arena. This order will mark our debut i...
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India’s First “Make-In-India” Electric Engine Launched Today
10Apr By Sheldan RungasamyNo Comments
News

India’s First “Make-In-India” Electric Engine Launched Today

The first all-electric train was completed by Alstom on time from its high-tech locomotive facility at Madhepura in Bihar. The train is the first of many more to come after the Government and the Indian Railways set up the target of achieving a 100% electrification of the railways in India and therefore step closer to sustainable mobility. Additionally, the new electric trains will cut down operating costs of the Railways by a huge margin and a huge volume of greenhouse gas emissions. This first all-electric train will lead the way in the €3.5 billion order for a fleet of 800 electric double-section locomotives signed in 2015. This initiative comes under the Ministry of Railway’s public-private partnership programme as they want to modernize the overall Indian railway infrastructure. Th...
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You Can Now Book An Ola Cab From IRCTC’s Website!
20Mar By Sheldan RungasamyNo Comments
News

You Can Now Book An Ola Cab From IRCTC’s Website!

The IRCTC-Ola collaboration will give customers the chance to book an Ola ride whenever they visit the IRCTC Rail Connect App or the website.   The Ola-IRCTC Partnership The railway Public Sector Undertaking (PSU) and Indian Railway Catering and Tourism Corporation (IRCTC) announced on Monday they were tying up with Ola, the cab aggregator, in a bid to provide railway travelers the opportunity of booking a taxi before and after their train travel. This initiative comes as the IRCTC wishes to provide connectivity from the moment their train commuters leave their house up until their final destination. The collaboration will be a six months trial destined to give customers access to Ola booking services whenever they use the IRCTC Rail Connect App or the website, according t...
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RailYatri To Raise $10 Million Funding From Omidyar Network
15Feb By RishabhNo Comments
FUNDING

RailYatri To Raise $10 Million Funding From Omidyar Network

Indian Railway query platform RailYatri is in talks to secure a funding of $10 million from its existing investor Omidyar Network, a philanthropic investment firm. This third round of funding will also see participation from its other existing investors including Blume Ventures, Helion Venture, Nandan Nilekani according to the source ET. “While the talks are on with our existing investors, the quantum of capital we will raise will depend on the scale we wish to achieve over the next 12-18 months,” Manish Rathi, co-founder of RailYatri told the source. The fresh capital will be used to expand the firm's offerings to capture the long-distance market through penetration in geographical spread of buses, along with the introduction of long-distance taxis. RailYatri will also be aiming ...
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Eyeing on 300 Crore Profit, Indian Railways Will Allow Space For App Based Cab Service
15Feb By NitishNo Comments
INDIA, News

Eyeing on 300 Crore Profit, Indian Railways Will Allow Space For App Based Cab Service

Encashing the growing demand for application-based cab services, the Indian Railways is all set to provide space for such facility at about 500 major stations, eyeing an annual profit of Rs 300 crores. Railway Minister Suresh Prabhu will unveil the new policy for app-based cab service next month along with providing parking space and kiosks near major stations. The Railways at present earns about Rs 122 crores a year from parking spaces across the country. With the new policy, the national transporter envisages Rs 200 crores more annually from these parking spaces, a senior official said. Though a passenger can still avail Ola or Uber service through the mobile application, allowing a kiosk and adequate parking space near busy stations is expected to ensure good business for the a...
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