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He also served as Chief Financial Officer of Chhattisgarh East Railway (CERL) and Chhattisgarh East West Railway (CEWRL), subsidiaries of SECL, for six years. An MBA in finance, Narain is recognised for his expertise in financial analysis, strategic planning, stakeholder management, negotiation, and team leadership.
IRFC is a Navratna Central Public Sector Enterprise under the Ministry of Railways and the dedicated market borrowing arm of Indian Railways. It provides financing support for railway expansion, modernization and strategic infrastructure development.
On a standalone basis, IRFC's net profit rose 0.15% to Rs 1684.31 crore while net sales rose 9.18% to Rs 7336.05 crore in Q4 March 2026 over Q4 March 2025.
The counter slipped 1.04% to Rs 497.05 on the BSE.
Jain had tendered his resignation on personal grounds.
Indian Railway Catering and Tourism Corporation (IRCTC) is an Indian public sector undertaking that provides ticketing, catering, and tourism services for the Indian Railways.
The company’s consolidated net profit declined 8.88% year-on-year to Rs 326.36 crore in Q4 FY26 from Rs 358.22 crore in Q4 FY25. However, revenue from operations rose 15.07% YoY to Rs 1,459.71 crore in Q4 FY26 from Q4 FY25.
The counter shed 0.55% to Rs 515.30 on the BSE.
IT shares witnessed buyiung demand for second consecutive trading sessions.
At 11:25 IST, the barometer index, the S&P BSE Sensex added 372.78 points or 0.50% to 76,647.26. The Nifty 50 index jumped 92.75 points or 0.39% to 23,945.80.
In the broader market, the BSE 150 MidCap Index gained 0.13% and the BSE 250 SmallCap Index added 0.25%.
The market breadth was strong. On the BSE,1,386 shares rose and 2,803 shares fell. A total of 216 shares were unchanged.
In the commodities market, Brent crude for August 2026 settlement fell 42 cents or 0.50% to $82.75 a barrel.
In the foreign exchange market, the rupee edged higher against the dollar. The partially convertible rupee was hovering at 94.6825 compared with its close of 95.5800 during the previous trading session.
Buzzing Index:
Nifty IT Index rallied 1.13% to 28,384.10. The index climbed 2.12% in the two consecutive trading sessions
HCL Technologies (up 2.76%), Persistent Systems (up 2.69%), Coforge (up 2.38%), Tata Consultancy Services (up 1.27%), Tech Mahindra (up 1.26%), Oracle Financial Services Software (up 1.02%), LTM (up 1%), Infosys (up 0.87%), Wipro (up 0.67%) and Mphasis (up 0.13%) surged.
Stocks in Spotlight:
Indian Railway Catering and Tourism Corporation (IRCTC) rose 0.42%. The company announced that Sudhir Kumar, GM (Finance), has ceased to be CFO, KMP and senior management personnel with effect from 15 June 2026.
Bandhan Bank declined 1.21%. The bank said that its board has approved the proposal for sale of identified non-performing assets (NPA) that have principal outstanding amounting to Rs 303.74 crore to asset reconstruction companies.
Godavari Biorefineries rallied 5.54% after the company announced that the japanese patent office had granted a patent for its invention, 5-Hydroxy-1,4-Naphthalenedione, for use in the treatment of cancer.
Global Market:
Most Asian market advanced on Tuesday as investors continued to assess the details of a potential deal between the U.S. and Iran to end the ongoing conflict.
Early this week, President Donald Trump announced that the U.S. and Iran had reached a deal to end the war in the Middle East.
Pakistani Prime Minister Shehbaz Sharif said that both sides have declared the termination of their military operations on all fronts, with an official signing ceremony to take place this Friday in Switzerland. A senior Trump administration official has reportedly said that the memorandum of understanding was already signed electronically on Sunday.
The president also said that the key Strait of Hormuz passageway would reopen on Friday, sending oil prices down nearly 5% on Monday. Vice President JD Vance reportedly said that the strait would “be opened in a toll-free way for the long term.”
Meanwhile, the Bank of Japan (BOJ) hiked the policy rates to 1.0%, this marks a 31-year high for interest rates. This is the BOJ’s first hike since December, when it raised rates to its current level of 0.75%, and the first time since 1995 that rates have been raised to 1%.
Further, China’s retail sales fell for the first time in more than three years in May, signaling a deepening economic slump, according to data released Tuesday by the National Bureau of Statistics.
Retail sales, a gauge of consumption, declined in May for the first time since December 2022, dropping 0.6% from a year earlier.
Industrial output was the lone bright spot, rising 4.5% in May to top widely reported estimates of 4.3% growth and rebounding from April’s near three-year low of 4.1%.
The Chinese national unemployment rate fell to 5.1% in May, compared with 5.2% in April.
Overnight on Wall Street, stocks rose on Monday to kick off the holiday-shortened trading week as SpaceX extended its rally and after President Donald Trump announced that an agreement had been reached to end the war between the U.S. and Iran.
The Dow Jones Industrial Average added 468.77 points, or 0.92%, for a record close of 51,671.03. The 30-stock index also hit a new all-time intraday high during the session. The S&P 500 climbed 1.65% to 7,554.29, while the Nasdaq Composite popped 3.07% to end at 26,683.94.
The company said Kumar has relinquished the additional charge of Director (Finance) following the appointment of a new incumbent to the post, in line with directions issued by the Railway Board.
IRCTC further said Kumar has been relieved and repatriated on 15 June 2026, pursuant to a Railway Board order dated 3 June 2026.
Consequently, he ceases to hold the positions of CFO, KMP and senior management personnel of the company with effect from 15 June 2026, IRCTC said in a regulatory filing.
Shares of IRCTC rose 0.44% to Rs 520.55 on the BSE.
For the full year,net profit rose 5.97% to Rs 1393.45 crore in the year ended March 2026 as against Rs 1314.90 crore during the previous year ended March 2025. Sales rose 11.55% to Rs 5214.86 crore in the year ended March 2026 as against Rs 4674.77 crore during the previous year ended March 2025.