Indian Railways denies data breach of 3 crore passengers from IRCTC servers; stock declines

IRCTC Share Price: The Ministry of Railways has denied reports about a suspected data breach of 3 crore passengers from the Indian Railway Catering and Tourism Corporation (IRCTCT) serves. The Ministry in a statement said that 

"On analysis of sample data, it was found that the sample data key pattern does not match with IRCTC history application programming interface (API). Suspected data breach is not from the IRCTC servers," the Ministry said in a statement.

The clarification was issued by the Ministry after an incident regarding the Indian Railways data breach was reported by a section of the media.

The Railway Board immediately shared a possible data breach incident alert of CERT-In to IRCTC reporting a data breach pertaining to Indian Railways passengers, it said.

IRCTC is currently doing a further investigation into the possible data breach. It has now asked business partners to help in the investigation.

Meanwhile, shares of IRCTC traded lower by more than 1 per cent during Thursday's session. It quoted Rs 631 apiece on NSE and BSE.

Zee Business panelist Kunal Saraogi said that IRCTC chart looks weak. He said that railway stocks in 2022 rallied but IRCTC did not perform. He said that the counter in the past few days has seen a big cut as he recommended a sell call with a target of Rs 600.

Another panelist Vikas Sethi said that he is bullish on railway stocks but not on IRCTC. He said that the valuation is costly. 

In the past one year, the stock has declined over 25 per cent. The stock's 52-week range is Rs 918.30 - Rs 557.

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