redBus Collaborates With IRCTC; IRCTC Stock Advances Over 3% on Tuesday

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redBus Collaborates With IRCTC; IRCTC Stock Advances Over 3% on Tuesday
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The country’s largest online bus ticketing platform, redBus will now provide rail ticketing services with the launch of redRail, in collaboration with the e-ticket booking platform for Indian Railways, IRCTC (NS: INIR ).

The bus ticketing platform, in an announcement on Monday, informed that its users will now be able to book bus as well as train tickets on the app and desktop modes. All of IRCTC’s scheduled train services will now be available for booking on redBus’ platform.

The online bus ticketing major has further stated that as an introductory offer, redRail will not levy any service fee or payment gateway charges.

Shares of IRCTC are trading 3.4% higher at 9:27 am on Tuesday, at Rs 802.2 apiece. The stock opened 2.9% higher today at Rs 798.3 apiece, after tumbling 5.69% on Monday’s session, to end the day at Rs 776.26 apiece.

Over the past 5 days, IRCTC’s stock has corrected more than 10.5%, while the returns on the ticketing major’s stock remain over 173% for the ongoing year.

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