IRCTC Shares Dip As Website And App Crash During Holiday Season; Company To Give Negative Returns As 2024 Comes To A Close

The users of the Indian Railway Catering and Tourism Corporation or IRCTC, ran into some inconvenience as the platform-run website and mobile application crashed as users tried to access the website (and mobile application).

IRCTC Site Crashes

As this came to pass, the shares of the listed company also took a dip at the equity markets.

The Indian Railway Catering and Tourism Corporation share listed on the National Stock Exchange (NSE) as IRCTC had a relatively underwhelming time on Thursday, December 26.

The company shares opened at a slightly lower than its closing on December 24. After opening at Rs 788.05 (higher than Rs 788.60 from December 24).

On Thursday, the company shares dropped by 0.91 per cent or Rs 7.20. This took the overall slump in the company value to Rs 781.60.

The past few weeks have not been good for IRCTC in the equity markets, as the company's shares dropped in value by over 20 per cent. When the most recent progress is taken into account, the shares saw a decline of 2.45 per cent, just in the past 5 trading days.

IRCTC Investors To End Year With Negative Returns

However, as the year comes to an end, the most important piece of new lies in another piece of development. Investors in the company are set to end the year with negative returns in the company.

With just 5 days to go before the end of 2024, IRCTC shareholders will end with a value, lower than the investments, that they made at the beginning of the year. The company shares have declined by 10.05 per cent or Rs 87.40. This took the overall value of the shares below the 52-week-high of Rs 1,138.90 per share.

 When it comes to the aforementioned crash, after 1.5 hour long outage, the services of a IRCTC website and mobile application were restored.