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<ul><li><keyword id="18635" type="CITY" weightage="20" keywordseo="Amazon">Amazon</keyword> India has partnered with <keyword id="6355455" type="DEFINITION" weightage="20" keywordseo="indian-railways">Indian Railways</keyword> to launch pick up kiosks in <keyword id="6358070" type="DEFINITION" weightage="20" keywordseo="mumbai">Mumbai</keyword>.</li><li>The CSTM, Thane, Dadar and Kalyan stations will see the pilot run of the project. </li><li>Amazon recently opened its largest campus in Hyderabad. The 9.5 acre campus will house 15,000 employees.</li></ul>Amazon India partnered with the Indian Railways to set up pick up kiosks at Mumbai’s local railway stations. This plan will be piloted in stations like CSTM, Thane, Dadar and Kalyan. Through these pick up kiosks, customers can pick up their couriers on-the-go. “As a customer-obsessed company, we are constantly leveraging our resources and technology to build initiatives which are grounded in customer convenience. The suburban railway network forms the backbone of public transportation in Mumbai,” said Prakash Rochlani, Director – Last Mile Transportation, Amazon India. While shopping, customers can select a pick up point at the checkout page. Amazon has been ramping up its game in India. It recently opened its largest campus in Hyderabad. The 9.5 acre campus will house 15,000 employees. Across the country, Amazon now has more than 60 fulfillment centers with over 20 million cubic feet storage space.

Mumbaikars can now pick up their Amazon packages on the way to work from a suburban railway station

New Delhi, Apr 27 () E-commerce giant Amazon India on Monday said it has strengthened its partnership with the Indian Railways and has ramped up its operations to 55 lanes in a bid to enable faster deliveries to customers amid the nationwide lockdown. Last year, Amazon India had partnered with Indian Railways for inter-city transportation of e-commerce packages on 13 lanes, and had also set up pickup kiosks for customers in Kolkata and Mumbai. Amazon India will transport consignments via rail across the country and is leveraging the 'COVID-19 Parcel Special Trains' introduced by the Indian Railways to ramp up its operations to 55 lanes during the lockdown period, it said in a statement. Indian Railways with the support of the Railway Board and the zones across Western, Central, Northern, Eastern, South Central, Southern, South Eastern, North East Frontier, North Western and South Western have created a proactive solution to provide support for transportation during lockdown. "This enhanced network will enable sellers in Amazon India's network to ship their products across the country and keep their businesses running, thereby, allowing people to access a more diverse selection of essential products," the statement said. Amazon India Director (Amazon Transportation Services) Abhinav Singh said with the support of COVID-19 Parcel Special trains introduced by the Indian Railways, the company is confident it can further fulfil customer orders with enhanced speed and capacity. "We are grateful for this timely decision by the Indian Railways to offer freight movement solutions during these challenging times," he added. Under the lockdown - scheduled to end on May 3, e-commerce companies have been allowed to sell only essential items like grocery, healthcare and pharmaceutical products. The players and industry associations have been urging the government to expand the list of essentials to include 'work from home' and 'study from home' products. SR SHWSHW

Amazon India strengthens partnership with Railways for faster deliveries amid lockdown

<ul><li>The <keyword id="6307125" type="General" weightage="20" keywordseo="telecom-relief-package" source="Orion">telecom relief package</keyword> gives <keyword id="15491" type="General" weightage="20" keywordseo="airtel" source="Orion">Airtel</keyword> and Vodafone Idea a time-freeze of four years from making payments towards their respective adjusted gross revenue (AGR) dues.</li><li>While Vodafone Idea is running on fumes, with a cash balance of just ₹920 crore, the relief measures boost Airtel’s liquidity position, allowing it to invest aggressively in the upcoming 5G spectrum auctions.</li><li>Check out the complete details of the telecom relief package and <keyword id="12098906" type="General" weightage="20" keywordseo="agr-moratorium" source="Orion">AGR moratorium</keyword>.</li></ul> The much-awaited telecom relief package has been announced by the Indian government on Wednesday, giving a fresh lease of life to the struggling Vodafone Idea. The telecom relief package gives Airtel and Vodafone Idea a time-freeze of four years from making payments towards their respective adjusted gross revenue (AGR) dues. Airtel will benefit from the four-year moratorium on <keyword id="8275485" type="General" weightage="20" keywordseo="agr-dues" source="Orion">AGR dues</keyword>, freeing up its cash reserves to invest in the upcoming 5G spectrum auctions. In anticipation of the relief package, both Airtel and Vodafone Idea’s shares have registered a rally in September. While Vodafone Idea’s shares have surged by over 44% in the first half of the month, Airtel has seen its stock go up by nearly 10%. “AGR has been a highly contentious and litigious issue for several years. It has been decided to rationalise the definition of AGR,” announced Telecom Minister Ashwini Vaishnaw. The minister, however, did not reveal <a href="https://www.businessinsider.in/business/telecom/news/government-picking-up-a-stake-in-vodafone-idea-might-be-a-remedy-worse-than-the-disease-say-experts/articleshow/86221662.cms">whether the government will pick up a stake in Vodafone Idea</a> by converting a part of AGR dues into equity. <cmsannotation type="cmsannotation" annotationid="Here’s what the telecom relief package consists of" comment="subhead" text="Here’s what the telecom relief package consists of">Here’s what the telecom relief package consists of</cmsannotation> Making the announcement, Vaishnaw revealed that the non-telecom revenue will be excluded from the definition of AGR. This should benefit government undertakings like Indian Railways, Gas Authority of India, Power Grid Corporation, among others, who are captive users of spectrum. The headline announcement, though, is the four-year moratorium on AGR and spectrum dues. The companies who avail of this facility will have to pay interest on the amount and period of moratorium, since the government would have to protect its revenue. Both banks and telcos will benefit from de-stressed balance sheets thanks to this relief measure. Apart from this, the government has announced that instead of compounding interest on spectrum dues on a monthly basis, it will now do so on an annual basis. This should drastically reduce the impact of compounding and offer major relief to telecom players who have to pay AGR and spectrum dues. Here are a few other highlights from the government's announcement: <ul><li>The minister also announced that the penalty on late payment of dues has been completely removed.</li><li>Telecom operators will also now be able to share spectrum freely, without having to pay any charges whatsoever to the government.</li><li>100% foreign direct investment via the automatic route is now allowed, increasing from 49% previously.</li><li>In addition to this, the government has now allowed complete digitisation of know your customer (KYC) norms while buying a new connection or switching from postpaid to prepaid and vice-versa.</li><li>Telecom operators will also no longer require licences for procuring telecom equipment, henceforth.</li></ul><cmsannotation type="cmsannotation" annotationid="What is AGR?" comment="subhead" text="What is AGR?">What is AGR?</cmsannotation> In 1999, the government and telecom operators shifted to a revenue-sharing fee model that requires them to share a part of their adjusted gross revenue (AGR) with the government as annual licence fee and spectrum usage charges. AGR is defined in the license agreements entered between the Department of Telecommunications (DoT) and the telecom operators. Here’s how much Vodafone Idea and Airtel owe the government in the form of AGR dues: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Total AGR demand (in crore) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">AGR dues paid (in crore) </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Balance AGR dues (in crore) </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Vodafone Idea </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹58,254 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹7,854 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹50,339 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Airtel </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹43,980 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹18,004 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹25,976 </td></tr></tbody></table> Source: AGR dues case in the Supreme Court Vodafone Idea also pays approximately ₹5,000 crore per year towards licence fee and spectrum usage charges. Additionally, according to a report by <a href="https://economictimes.indiatimes.com/industry/telecom/telecom-news/cabinet-refuses-proposal-for-telecom-relief-measures-claims-reuters-report/articleshow/86032076.cms">The Economic Times</a>, the telco will have to pay ₹14,000 crore annually towards spectrum payments, taking its annual liability to ₹19,000 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/government-picking-up-a-stake-in-vodafone-idea-might-be-a-remedy-worse-than-the-disease-say-experts/articleshow/86221662.cms">Government picking up a stake in Vodafone Idea ‘might be a remedy worse than the disease’, say experts</a> <a href="https://www.businessinsider.in/business/telecom/news/yes-bank-sbi-and-others-want-vodafone-idea-to-be-saved-heres-why/articleshow/86196076.cms">Yes Bank, SBI and others want Vodafone Idea to be saved, here’s why</a> <a href="https://www.businessinsider.in/business/telecom/news/jiophone-next-is-the-new-weapon-in-ambanis-arsenal-as-he-takes-aim-at-the-500-million-subscriber-mark/articleshow/85974565.cms">JioPhone Next is the new weapon in Ambani’s arsenal as he takes aim at the 500 million subscriber mark</a>

Indian government dials M for moratorium – Airtel, Vodafone Idea get a four-year relief on AGR dues

<ul><li><keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword> announced that it is strengthening its partnership with <keyword id="6355455" type="DEFINITION" weightage="20" keywordseo="indian-railways">Indian Railways</keyword> to ramp up its operations across 55 lanes during lockdown. </li><li>In 2019, Amazon had initially partnered with Indian Railways across 13 lanes to transfer inter-city goods.</li><li>E-commerce platforms are currently allowed to deliver only essential items.</li></ul>Amazon India will now use the Covid-19 special trains of the Indian railways to transfer food faster. The e-commerce major announced that it is strengthening its partnership with Indian railways to ramp up its operations across 55 lanes during the lockdown. In 2019, Amazon had initially partnered with Indian Railways across 13 lanes to transfer inter-city goods. “In these unprecedented times, we understand the importance of ensuring that critical supplies reach our customers across the country. With the support of COVID-19 Parcel Special trains introduced by the Indian Railways, we are confident that we can further fulfil customer orders with enhanced speed and capacity,” said Abhinav Singh, Director, Amazon Transportation Services, Amazon India. Amazon India and Indian Railways have a long-term partnership that is focused on “developing the rail network to supplement the road and air networks for transportation of customer packages with improved speed and reliability”. Currently owing to the <keyword id="8637077" type="UNKNOWN" weightage="20" keywordseo="Coronavirus-lockdown">coronavirus lockdown</keyword> in India, e-commerce platforms are allowed to deliver only essential goods. However, in the past week, there has been a mixed signals lot of back and forth from the Ministry of Home Affairs wherein it first allowed e-commerce services to deliver non-essential goods but within a day, it rolled back the advisory to limit delivery only for essential goods. Meanwhile, Amazon also said that it has partnered with National Skill Development Corporation (NSDC). Through this partnership, Amazon plans to drive awareness on physical hygiene and social distancing in light of the coronavirus pandemic. “The partnership will identify volunteers, namely ‘COVID-19 Digital Heroes’ through digital outreach across various platforms. Students who are a part of Amazon’s ALEXA student ambassador program will also act as COVID-19 Digital Heroes and help amplify the campaign further,” Amazon said in a statement. See Also: <a href="https://www.businessinsider.in/business/news/as-malls-continue-to-stay-shut-retailers-turn-to-the-government-for-support-for-rent-waivers-gst-concessions-and-more/articleshow/75405599.cms">As malls continue to stay shut, retailers turn to the government for support for rent waivers, GST concessions and more</a>

Amazon to use Covid-19 Parcel Special trains in India to transport goods

<ul><li>The Indian railways stock has surged over 400% since its debut on the stock exchanges in October 2019.</li><li>Analysts are highly positive about <keyword id="65866" type="General" weightage="20" keywordseo="irctc" source="Orion">IRCTC</keyword>’s aggressive expansion plan in the hospitality sector and believe that the stock would reach ₹5,000 from the ₹3,000-level currently.</li><li>The market capitalisation of the stock is ₹63,726 crore.</li></ul>Shares of the <keyword id="70669" type="General" weightage="20" keywordseo="indian-railway-catering-and-tourism-corporation" source="Orion">Indian Railway Catering and Tourism Corporation</keyword> (IRCTC) have been trading with huge volumes in the last few weeks to gain almost 50% in one month. These quick gains have made the shares of the company spike 5 times i.e., 410% since its listing on exchanges in October 2019. Analysts believe the stock price is rising because of the company’s aggressive expansion plan in the hospitality sector. "IRCTC is aggressively focusing on its hospitality business by tying up with hotels, tour and travel service providers and local food suppliers. It is also giving special focus to its food chain business in running trains. Apart from this, IRCTC has made tie-ups with aviation companies as well. So, [the] market has realised that in coming times, it is no more [sic] going to remain an Indian Railways' e-ticket booking platform. It will emerge as A-Z hospitality service provider," said Ravi Singhal, vice chairman at GCL Securities according to a report by Mint. Analysts at Swastika Investmart reportedly say the reopening theme post covid restrictions is the reason for the traction in the stock along with news of stock split. Railways' <a href="https://www.livemint.com/market/stock-market-news/why-analysts-are-bullish-on-irctc-ircon-here-are-the-triggers-11629954156351.html">asset monetisation plan</a> is another trigger for the stock rise. On August 12, IRCTC approved a stock split in the ratio of 1:5 to enhance the liquidity in the capital market, widen the shareholder base and make the shares affordable to small investors. A stock split is generally done to make the stock more affordable for the small retail investors and increase liquidity. On September 17, the stock was up 5.44% as of 10:43 a.m., with heavy volumes. 5.29 million shares changed hands on the exchanges as compared to a roughly average volume of around 1 million shares. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gains in IRCTC share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Last 5 days </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">One month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">48% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">This year so far </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">174% </td></tr></tbody></table> IRCTC is a central public sector enterprise operating in four segments, namely internet ticketing, catering, packaged drinking water, and travel and tourism. Aside from being the preferred portal for booking tickets, its subsidiary Rail Neer already accounts for nearly one in every two bottles of water sold in any railway station in India. Moreover, the company has been performing well on the financial front as it made a profit of ₹82.53 crore in June quarter 2021 as compared to loss of ₹24.60 crore during the same period last year. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/news/universal-pension-is-a-better-idea-than-universal-basic-income-says-indias-chief-economic-advisor/articleshow/86282048.cms">Future of Work 2021: Universal pension is a better idea than universal basic income, says India's Chief Economic Advisor</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/the-only-way-to-beat-the-bots-from-taking-your-job-is-to-be-more-human/articleshow/86282273.cms">Future of Work 2021: The only way to beat the bots from taking your job is to be more human</a>

IRCTC soars almost 50% in one month on expansion strategy, boost in train bookings

Credits:IANS <ul><li>BookMyShow is exclusively offering special train to the last concert of <keyword id="67389" type="ENTERTAINMENT" weightage="20" keywordseo="U2">U2</keyword>’s Joshua Tree Tour 2019 in Mumbai.</li><li>Travel package for U2 India tour is available at BookMyShow for ₹500. </li><li>The Irish band U2 is performing for the first time in India </li></ul>Rock legends Bono, Larry, <keyword id="818639" type="PERSON" weightage="20" keywordseo="Adam-Clayton">Adam Clayton</keyword>, and The Edge ⁠— the Dubliners who have enchanted fans as the band U2 since 1976 are in Mumbai and the excitement is starting to peak ahead of their concert in the satellite city near India’s financial capital on Sunday. BookMyShow, the official ticketing partner of U2’s India concert, has announced <a href="https://in.bookmyshow.com/events/u2-the-joshua-tree-tour-2019-mumbai/ET00112212">a special train and a helicopter ride</a> for fans to U2’s concert at the <keyword id="117683" type="ORGANIZATION" weightage="20" keywordseo="DY-Patil-stadium">DY Patil stadium</keyword> in Navi Mumbai. 
 
 
 
 
 
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 Credits:IANS The special train will start at Andheri in December 15 at 2.55pm. It will board passengers to the concert until Nerul station with limited stops in between at Mahim (3.10pm) and Kurla (3.20pm) for 30 seconds. People can buy the travel package for ₹500 at BookMyShow. There are dedicated bus services for the concert as well with pick-up and drop bus services from multiple areas in and around the city, directly to the venue. The Irish band is in India as part of The Joshua Tree tour, an album that was released in 1987 with iconic hits like ‘With or Without You’ and ‘Where the streets have no name’. 
 
 
 
 
 
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Credits:IANS Oscar-winning composer A.R. Rahman is likely to open the concert with Ahimsa — his collaborative single with U2. Rahman's performance will also feature his two daughters, according to a report. (With IANS) 
 
 
 
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There's a special chopper and a train to take fans to the U2 concert in Mumbai — and they will leave 'with or without you'

<ul><li><keyword id="70669" type="ORGANIZATION" weightage="20" keywordseo="Indian-Railway-Catering-and-Tourism-Corporation">Indian Railway Catering and Tourism Corporation</keyword> (<keyword id="65866" type="COMPANY" weightage="20" keywordseo="IRCTC">IRCTC</keyword>) shares have zoomed 216% since its listing in October 2019.</li><li>Analysts expect the stock to gain more in the months ahead as people travel more, with more vaccinations and fewer infections.</li><li>Its recent tie-ups with tech platforms and new bottling plants are expected to boost revenue growth</li><li>Check out the latest news and updates on Business Insider.</li></ul>Indian Railway Catering and Tourism Corporation (IRCTC) shares have zoomed 216% since its listing in October 2019. Now, the ₹40,000 crore ($5.7 billion) company, which has a monopoly in ticket bookings and catering for the Indian Railways, plans to split the stock. A stock split is the process of reducing the price, in turn, giving the existing shareholders more shares in the company. If you have 1,000 shares worth ₹100 each, and the stock split is 10:1, you will have 10,000 shares worth ₹10 each. It makes it more affordable for small investors to buy and sell shares. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Period </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Gains in IRCTC share price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 week </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1 month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">This year so far </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">73% </td></tr></tbody><tbody></tbody></table> The next question would be what led to the outperformance and rapid uptick in the stock? Investors expect that the economy will open up, people will travel more, as the vaccinations pick up pace and the pandemic peters out. The recovery is already visible in its earnings of the last four quarters. In its report in July 2021, broking firm Anand Rathi said the shares could worth ₹2,850 apiece in the next one year. <div type="image" title="IRCTC chart" height="900" width="1200" msid="84967721" hostid="261"></div> IRCTC is a central public sector enterprise operating in 4 segments, namely internet ticketing, catering, packaged drinking water and travel &amp; tourism. Aside from being the preferred portal for booking tickets, its subsidiary Rail Neer already accounts for nearly one in every two bottles of water sold in any railway station in India. It plans to commission four new bottling plants this year and that would mean more supply to meet the demand as it revives. Recently, in e-catering, the company has partnered with private tech platforms like travel portal Ixigo and payments startup MobiKwik to name a few. “Going forward, management expects to reach the pre COVID level very soon after the resumption of Tejas Express, increase in convenience revenue to 25%, capacity expansion of Rail Neer and the impact of price hike announced in catering will play out by then,” the Anand Rathi report said. SEE ALSO: <a href="https://www.businessinsider.in/business/news/exclusive-indias-largest-zinc-miner-is-eyeing-a-share-of-the-bangladesh-economic-boom/articleshow/84963388.cms">India's largest zinc miner Hindustan Zinc is eyeing a share of the Bangladesh economic boom </a> <a href="https://www.businessinsider.in/stock-market/news/zomato-indigo-paints-bectors-food-ujjivan-small-finance-bank-and-other-hot-stocks-that-have-lost-steam-since-listing/articleshow/84964352.cms">Zomato, Indigo paints, bectors food, Ujjivan small finance bank and another hot stocks that have lost steam since listing</a>

₹10,000 invested in IRCTC shares on listing is worth more than ₹38,000 today ⁠— the record could get even better

(Photo Source: pixabay.com) <ul><li>Amid the outcry against budget airlines in India charging for online check-ins, state-owned <keyword id="6355455" type="DEFINITION" weightage="20" keywordseo="indian-railways">Indian Railways</keyword> took to Twitter to remind travellers of the benefits taking trains over flights including its free web check-in and cheaper tariffs. </li><li>It also highlighted that by using the railways, passengers can avoid “long queues” for baggage check-ins and reduce their carbon footprint </li><li>Since the backlash from flyers, IndiGo has released a clarification that the web check-in policy for the airlines has not been changed and the flyers can still pre-book seats as per the availability.</li></ul>Amid the outcry against budget airlines in India charging for online check-ins, state-owned Indian Railways took to Twitter to list the <a href="https://www.financialexpress.com/infrastructure/railways/indian-railways-takes-witty-dig-at-indigo-other-airlines-over-web-checkin-lists-reasons-to-travel-by-trains/1394356/">benefits</a> of “good old railways” over taking flights such as its free web check-in, cheaper tariffs and lower carbon footprint. Recently, budget airlines IndiGo and Spicejet announced that they will begin charging for online check-in services that led to many flyers complaining on social media, <a href="https://www.businessinsider.in/indian-government-to-review-indigo-spicejet-policies-to-charge-for-web-check-in-after-flyers-protest/articleshow/66805080.cms">prompting</a> even the Indian government to review the move. On Monday, the Indian Railways tweeted, “No need to pay extra charges for web check-ins. No long queues for checking in your luggage. Avoid unreasonable tariff &amp; reduce your carbon footprint by travelling on the good old Indian Railways at affordable rates.” along with a detailed infographic. 
 
 
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 Since the backlash from flyers, IndiGo has issued a <a href="https://www.livemint.com/Companies/nZ7GK9IWW6M0sK990m2qYI/IndiGo-flights-web-checkin-free-seats-charges.html">clarification</a> that the web check-in policy for the airlines has not been changed and the flyers can still pre-book the free seats available during web check-in, if they have no specific preference. The price will only be applicable for selecting seats in advance. It had earlier said that its new policy went into effect in Mid-November. Airlines in India have been struggling of late because of higher fuel prices and rising operational costs, prompting many airlines to look at ways to cut costs or increase revenue. Indian Railways appears to be increasingly capitalising on the opportunity to woo airline passengers. Last week, it increased the number of coaches on trains between Mumbai and Delhi after a runway shut down at the Delhi airport, leading to escalating airline fares, PTI reported. SEE ALSO: <a href="https://www.businessinsider.in/indian-government-to-review-indigo-spicejet-policies-to-charge-for-web-check-in-after-flyers-protest/articleshow/66805080.cms">Indian government to review IndiGo, Spicejet policies to charge for web check-in after flyers protest</a> <a href="https://www.businessinsider.in/indias-cash-strapped-national-carrier-to-raise-850-million-by-selling-seven-aircraft/articleshow/66710092.cms">India’s cash-strapped national carrier to raise $850 million by selling seven aircraft</a> <a href="https://www.businessinsider.in/the-indian-government-is-planning-a-rescue-package-for-the-aviation-sector-as-the-losses-pile-up/articleshow/65681289.cms">The Indian government is planning a rescue package for the aviation sector as the losses pile up</a>

Indian Railways had the best response to budget airlines in India charging for online check-ins

<ul><li><keyword id="4905924" type="COMPANY" weightage="20" keywordseo="The-Railway-Board">The Railway Board</keyword> on Thursday in a notification said that tickets booked for the regular trains from July 1 to August 12 stand cancelled.</li><li>IRCTC is also set to announce its fourth-quarter results today for the quarter ending March 2020. </li><li>Follow the<a href="https://www.businessinsider.in/"> latest news and updates on Business Insider</a>. </li></ul>A day after <keyword id="6355455" type="COMPANY" weightage="20" keywordseo="indian-railways">Indian Railways</keyword> extended regular train suspension till August 12 in the wake of <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">coronavirus</keyword> lockdown, India’s top online booking portal Indian Railway Catering and Tourism Corporation (IRCTC) stocks crashed. The shares fell over 3% in early trade on June 26. <div type="image" title="IRCTC Stock Price" msid="76637397" hostid="261"></div> The Railway Board on Thursday in a notification said that tickets booked for the regular trains from July 1 to August 12 stand cancelled. However, it added that “all special Rajdhani, mail and express trains that started operating from May 12 and June 1 will continue to operate.” IRCTC is also set to announce its fourth-quarter results today Analysts do not have great hopes from the earnings for the quarter ending March 2020. Even before the lockdown, the number of tickets sold via IRCTC declined in early March to 5.5 lakh tickets per day in comparison to pre-COVID level of 8.5 lakh tickets each day, according to a report from Prabhudas Lilladher, a stockbroking firm. <div type="Article" hostid="261" msid="76618590" title="How does IRCTC make money" mstype="2" mssubtype="0"></div> Research firm Prabhudas Lilladher expects a hit of anywhere between 5.1% to 23% on IRCTC's this year's earnings due to extended suspension and ticket cancellation. “We have only enabled refunds for trains which are not being operated and for which tickets have been booked prior to lock down and up to April 14,” <a href="https://www.businessinsider.in/india/news/indian-railways-cancels-all-regular-trains-till-aug-12-special-trains-to-continue/articleshow/76636349.cms">a Railway spokesperson said</a>. SEE ALSO: <a href="https://www.businessinsider.in/india/news/irctc-website-crashes-as-it-reopened-for-booking-after-50-days-now-it-will-be-open-for-bookings-from-6-pm/articleshow/75675640.cms" data-type="tilCustomLink">IRCTC website crashes as it reopened for booking after 50 days — now, it will be open for bookings from 6 pm</a> <a href="https://www.businessinsider.in/india/news/indian-railways-new-rules-for-train-passengers-no-linen-and-only-packaged-food-allowed/articleshow/75675286.cms?_ga=2.9598773.1017742101.1592740209-81863974.1580121362" data-type="tilCustomLink">Indian Railways' new rules for train passengers —no linen and only packaged food allowed</a>

Cancelled trains drag IRCTC shares down by over 3%

<ul><li>The offer for sale has opened for non-retail investors today. </li><li>The government is planning to sell up to 20% stake in the company. </li><li>The floor price has been set at ₹1367, which is at a 16% discount to the last closing price on December 9. </li></ul>The shares of <keyword id="3219311" type="COMPANY" weightage="20" keywordseo="Indian-Railway-Catering-and-Tourism-Corp">Indian Railway Catering and Tourism Corp</keyword> (IRCTC) plunged over 8% in morning trade as the two-day offer for sale (OFS) gets underway. The government is planning to sell up to 20% stake in the company. The OFS has opened for non-retail investors today. Floor price has been set at ₹1367, which is at a 16% discount to the last closing price on December 9. <div type="image" title="ITC Share price (1)" msid="79656890" hostid="261"></div> The promoter proposes to sell up to 2,40,00,000 equity shares of IRCTC, representing up to 15% stake, with an option to additionally sell 80,00,000 shares, representing 5% of the total issued and paid up equity share capital, the company said in a regulatory filing. "Offer for Sale in IRCTC opens tomorrow for Non Retail investors. Day 2 for retail investors. Govt. would divest 15 per cent equity with a 5 per cent green shoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a tweet. Shares of IRCTC on Wednesday closed at Rs 1,618.05 apiece on the BSE, down 1.55 per cent from its previous close. In all, the promoter Government of India will sell 3.2 crore shares, which is expected to garner Rs 4,374 crore for the exchequer starved of funds due to the COVID-19 crisis. <keyword id="9901399" type="UNKNOWN" weightage="20" keywordseo="IRCTC-ofs">IRCTC OFS</keyword> will help the government inch forward in meeting the Rs 2.10 lakh crore disinvestment target. Of this, Rs 1.20 lakh crore will come from disinvestment of public sector undertakings and another Rs 90,000 crore from stake sale in financial institutions. The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, the government has to lower its stake in the company to 75 per cent. IRCTC, the only entity authorised by Indian Railways to provide catering services, online railway tickets and packaged drinking water at railway stations and trains in India, was listed on the stock exchanges in October 2019. The company had raised Rs 645 crore through the IPO. The Union Cabinet had in April 2017 approved listing of five railway companies. While four of them -- IRCON International Ltd, RITES Ltd, <keyword id="185930" type="COMPANY" weightage="20" keywordseo="Rail-Vikas-Nigam-Ltd">Rail Vikas Nigam Ltd</keyword> and IRTC -- have already been listed, IRFC is likely to be put on the block this fiscal. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/facebook-hit-with-2-massive-antitrust-lawsuits-from-the-ftc-and-46-states-seeking-to-spin-off-instagram-and-whatsapp/articleshow/79652195.cms" data-type="tilCustomLink">Facebook hit with 2 massive antitrust lawsuits from the FTC and 46 states seeking to spin off Instagram and WhatsApp</a> <a href="https://www.businessinsider.in/stock-market/news/airbnb-prices-ipo-at-68-per-share-will-raise-3-5-billion/articleshow/79653812.cms" data-type="tilCustomLink">Airbnb prices IPO at $68 per share, will raise $3.5 billion</a>

IRCTC tumbles 8% as government's 20% stake sale through OFS begins

<ul><li>Finance Minister of India Nirmala Sitharaman presented the Union Budget on February 1, 2022.</li><li>Struggling with high inflation and tepid rural demand, FMCG companies were hopeful for some positive news, steps and reforms that would help boost consumption in the economy.</li><li>However, with no changes in personal tax, there isn’t for hope for a drastic change in consumption and demand.</li><li>At the same time, there are enough subsidies to support the rural areas of the country.</li><li>Here’s what leading FMCG companies have to say about the Union Budget 2022-2023.</li></ul>The Union Finance and Corporate Affairs Minister Nirmala Sitaraman presented the Union Budget for 2022-2023 on February 01, 2022. The government announced that 5% of the annual collections under the Universal Service Obligation Fund will be allocated to improve broadband and mobile service penetration in rural India. This move will allow Fast Moving Consumer Goods (FMCG) brands and all businesses to cast their net a little wider in rural areas via mobile services. The government’s plan to expand the National Highway network by 25,000 KM, the Gati Shakti plan to strengthen seven engines of infrastructure, the launch of 100 new cargo terminals, will further open up new roads for brands and improve logistics efficiency. It will also create new job opportunities in rural areas, improving consumption and demand. The finance minister also mentioned that the government intends to pay ₹2.7 lakh crore worth of minimum support price (MSP) direct payments to wheat and paddy farmers. The government is also looking to deploy drones for agriculture monitoring, crop assessment, digitisation of land records and spraying of insect pesticides. These initiatives will help boost rural incomes and aid the growth of FMCG companies. The Union Budget aims to facilitate ease of doing business and give a push to consumption by providing employment opportunities, improving infrastructure, focusing on technological advancement and accessibility. Here’s how these subsidies for rural India will pave the way for FMCG growth: Mayank Shah, Senior Category Head, Parle Products: First of all, putting money in the hands of consumers really helps, so they go out and buy products. So that was more on the front of ensuring that the demand remained robust given that we have gone through two years of pandemic. That was something that industry expected, either by tax cut, or by increasing the slabs tax brackets or by probably increasing the standard deduction limit. Those were the things that we expected but not much has been done there. However, on the second front of job creation, the government has done a lot. The budget talks about seven engines driven by PM GatiShakti that will definitely boost employment and increase the number of jobs. The budget also talked about 60 new jobs to be created in the next five years. That is relatively a longer process compared to the first expectation which was putting money in the hands of consumers, which would have yielded immediate results. A 20,000 crore boost in transportation infrastructure will definitely help in terms of job creation going forward. Another thing the government would have ensured on the rural front was increased allocation to MGNREGA or direct benefit transfer. In Fact they chose the other way. In terms of rural demand, when you're talking about putting money in the hands of rural consumers by increased MSP and increased MSP allocation, it is also going to have an impact on the inflation because if you increase the MSP, that eventually is going to increase the cost of agri products, primary inputs in food processing. So procurement is going to be increased. The current challenge ahead of most FMCG companies, which is managing inflation, probably would be aggravated, so I consider it to be neutral. Probably placing this money in the hands of consumers through MGNREGA or DBT would have ensured demand to remain robust. Ahmed ElSheikh, President, PepsiCo India: Reviving economic growth, increasing consumption, and fostering investment to fuel post-pandemic growth have been key objectives for the government, and the <keyword id="12134566" type="General" weightage="20" keywordseo="union-budget-2022" source="Orion">Union Budget 2022</keyword> reflects this very intent. This year's Union Budget lays forth a vision for India at 100 years. The Government is leading from the front by raising public sector spending to keep the economic recovery on track. Digitization combined with infrastructural creation will accelerate economic development, stimulate innovation and entrepreneurship enhance living standards while keeping sustainability at its core. The increased outlay for PM Gati Shakti projects for multi-modal connectivity including 100 new railways logistics hubs coupled with steps like enhancing local oilseed production, extending the last date for starting production for new manufacturing units, encouraging alternate cropping will aid growth of the FMCG sector and further strengthen Govt’s vision of an Atmanirbhar Bharat. Saugata Gupta, MD and CEO, Marico Limited: With this Union Budget, the government has laid out a growth oriented, future focused blueprint for India. By prioritising job creation, infrastructure growth and strengthening digital capabilities while making ‘inclusive development’ and ‘financing of investments’ two of the key focal points of the Budget, the government is successfully laying the groundwork for faster financial inclusion and expansion of the credit ecosystem. It has undertaken some key initiatives targeted towards credit growth, farmer welfare, improving the health and education infrastructure, digital currencies and start-ups which will benefit young aspirational Indians. If executed well, the budget will trigger the virtuous cycle of economic growth and employment creation, leading to momentum in growth. I believe that the budget has several inclusive measures and policies that balance consumer needs with industry requirements. It encapsulates the spirit of an Atmanirbhar Bharat and takes strong steps towards fulfilling that vision. Venkatesh Vijaraghavan, Director &amp; CEO - FMCG, CavinKare: We welcome the futuristic, investment-led, growth-oriented Budget with a strong impetus to infrastructure and capability building, which would boost GDP, Atmanirbartha, economic stability and job creation, thereby reaping demographic dividend. Ghanshyam Khandelwal, Chairman, BL Agro: The budget was as expected. We didn't anticipate the industry to take centre stage because several schemes for the FMCG sector have already been implemented in recent years. However, the mention of a rationalised strategy to improve domestic oilseed production and minimise reliance on imports was welcomed. A more promising statement was the package that centers on farmers adopting appropriate fruits and vegetables, as well as proper harvesting practices. The move will go a long way towards uplifting the food processing sector. Harsha V. Agarwal, Director, Emami: A very forward-looking budget with focus on capital expenditure which should drive growth. The ease of business in India has also been prioritised. So over all the budget pulls no surprises and focuses on growth of the Indian economy. Amrinder Singh, Director, Bonn Group of Industries: As the social security benefit of state and central government employees has been enhanced in this Union budget 2022, we are expecting that it will spur the consumption. The government has put money in consumer’s hands and ensured that the demand is not getting affected by increasing the tax deduction limit by 14 percent of the state government employees. Vikram Agarwal, Managing Director, Cornitos: The Union Budget 2022-23 is a progressive budget, our Government is concentrating on infrastructure, employment generation, and future developments. This appears to be a growth-oriented budget as efforts are being made to reduce compliance burdens and improve ease of doing business. The Budget has given an extension of the ECLGS Scheme which would provide much-needed help to the MSME sector especially the hospitality and related food processing segments. The past few years have been tumultuous for the hospitality segment and I am hopeful that this initiative gives the industry a much-needed boost.

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