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