Following claims of a major breakdown on its e-ticketing system, Indian Railway Catering and Tourism Corporation (IRCTC) suffered a 1.4% drop in value on the Bombay Stock Exchange (BSE), falling to Rs 778.80. Travelers turned to social media to vent their annoyance with online ticket booking problems; several of them shared images including error messages indicating “maintenance activity.”
More than 2,200 complaints about the disturbance were reported according to Downdetector, a real-time outage monitoring system, with users complaining about the timing of the outage, particularly during busy business hours. After verifying the outage and attributing the problem to technical causes, IRCTC clarified that maintenance had caused temporary absence of the e-ticketing system.
This is the second such incidence of this month. Users could try ticket cancellals by email or customer service by entering a Ticket Deposit Receipt (TDR), suggested IRCTC. Following over an hour of interruption, the service came back on.
Notwithstanding recent losses, IRCTC’s stock has demonstrated an 8.6% growth year-to- date and a 10% climb over the last year. But over the previous three months the stock has down 13.8%; over the past six months it has dropped 21%. Trendlyne data shows that on technical charts the stock is trading below its main exponential moving averages and with a relative strength index (RSI) of about 36.
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