Indian shares extend fall as public sector stocks weigh; IRCTC slumps 10%

  • 10/29/2021
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BENGALURU (Reuters) - Indian shares fell further on Friday as state-controlled firms dropped, with IRCTC diving 10% on the Railway Ministry’s decision to share half of revenue from service charge on online tickets. The blue-chip NSE Nifty 50 index and the benchmark S&P BSE Sensex fell 1.3% and 1.16% to 17,653 and 59,291.56, respectively, by 0354 GMT. The public sector enterprises index fell 2.8% and was the top loser among sub-indexes. Indian Railway Catering and Tourism Corporation (IRCTC) said on Thursday the Railway Ministry had decided to share 50% of revenue earned from convenience fee collected by the company. Shares of InterGlobe Aviation Ltd, which operates India’s biggest airline, fell 4.6% after the company posted a bigger quarterly loss on Thursday and warned that steep fuel prices were a concern. Reporting by Nallur Sethuraman in Bengaluru; Editing by Subhranshu Sahu

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