IRCTC chugs along

IRCTC jumped up today by over 5.5% to an intraday high at Rs.752.80 on the back of robust volumes, up more than 2.5x.

A news report came in today saying that IRCTC has floated a tender to monetise its bank of passenger data. It plans to raise Rs.1000 crore.

A clarification on this news report was sought from the company and it did not refute the news outright, stating, “this tender has also been floated merely to appoint a consultant. The consultant will guide IRCTC and lndian Railways on monetization activities and advise on monetization value of Digital Assets.”

The company clarified that it is in the nascent stage of floating the tender and calling bids from the eligible consultant aspirants. Concrete outcome will be known only subsequent to the selection of suitable consultant and submission of its report on monetization value and processes.