Shares of Indian Railway Catering and Tourism Corporation (IRCTC) were surging after the travel booking platform announced offers to spur ticket bookings through the site.
What Happened: IRCTC said in an exchange filing it will not charge any convenience fee for flight bookings made through its website and mobile apps from September 25 to 27.
In addition, the tourism and hospitality public sector firm is offering discounts of up to ₹2000 on card transactions from various banks.
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Customers can avail of these special offers by booking their air tickets for the forthcoming holidays and the New Year.
IRCTC Air also caters to defence fares and leave travel concession (LTC) tickets for government officials. The company is also offering travel insurance of ₹50 Lakhs for every air ticket booked through its portal as a value addition.
Why It Matters: This move by IRCTC is a step towards enhancing customer experience and incentivising travel following the impacts of the COVID-19 pandemic. The move may draw more users to use the firm’s site and pad its revenue during the upcoming travel-heavy holiday season.
Price Action: IRCTC’s share price was up 3.84% at ₹688.80 in late afternoon trade.
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