IRCTC Hits 52-Week High, Plans Nationwide Expansion Beyond Railways in Catering Business

14 Dec 2023 , 12:28 PM

IRCTC Limited’s shares surged 3% to a new 52-week high of Rs 799.95 in early trade on December 14 following the railway major’s announcement of significant expansion in the non-railway catering business nationwide.

The Mini-Ratna PSU expressed its intention to diversify its business beyond Railways to promote its brand and operations across the country.

Presently, IRCTC manages catering services for various Ministries, autonomous bodies, the Judiciary, and Universities, with hospitality outlets already established in nine organizations, including the Department of Telecommunications in New Delhi, Calcutta High Court, and UP Secretariat in Lucknow.

The company has signed MoUs with government bodies, including defense establishments like Border Security Force, Indian Maritime University in Kolkata, and Cotton University, Guwahati. IRCTC is actively commissioning 15 more catering units across the country in the near future.

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