The curious case of IRCTC

In July, we explained why IRCTC’s share price was going to the moon. And we ended the story by saying, “IRCTC is a government-controlled monopoly, and if you’re always expecting them to prioritize the interest of the shareholders above the interest of the general population, then you could perhaps be mistaken.” Last week, that problem of government ownership manifested itself in all its glory. So we decided to explain what the fuss was all about.