Adani to soon sell online train tickets, buy booking platform Trainman
IRCTC share price has given some upside movement in last one month delivering around 9 per cent return in last one month.
Adani Enterprises will soon be selling online train tickets as it informed the Indian stock market bourses on Friday that it has signed a share purchase agreement for the acquisition of a 100 per cent stake in Stark Enterprises Private Limited-owned Trainman — an online train ticket booking platform.
Adani Enterprises informed Indian bourses about the agreement citing, “With reference to the captioned subject (Intimation for execution of Share Purchase Agreement in relation to acquisition of 100% stake in Stark Enterprises Private Limited), we would like to inform you that Adani Digital Labs Private Limited (“ADL"), a wholly owned subsidiary of the Company has signed a Share Purchase Agreement (“SPA") in relation to its proposed acquisition of 100% stake in Stark Enterprises Private Limited (“SEPL"), also known as Trainman, an online train booking and information platform."
Trainman is an IRCTC-authorised train ticket booking agent.
Adani Enterprises shares bottomed out at around ₹1195 apiece levels on NSE at the end of February 2023, after heavy sell off caused by Hindenburg Research report. While bouncing back from its YTD lows, Adani Enterprises share price ended at around ₹2505 apiece levels on Friday last week, logging more than 100 per cent rise in less than four months time.
Meanwhile, the IRCTC share price has remained under the base building mode after ushering in November 2022. However, the IRCTC share price has given some upside movement in last one month delivering around 9 per cent return in last one month.
Recently, the ITCTC share price has given breakout at ₹645 per share levels and closed at ₹666 apiece levels on NSE after the end of Friday deals.