IRCON International secured a letter of award (LoA) from the National Highways & Infrastructure Development Corporation (NHIDCL) for the construction of a tunnel in Mizoram valued at Rs 630.66 crore.
IRCON International shares gained over 6% on Monday after the railway engineering firm said it has won a Rs 1198 crore project in a joint venture. IRCON International stock rose 6.43% to Rs 266.95 against the previous close of Rs 250.80 on BSE. The multibagger stock opened higher at Rs 258 today. IRCON International shares are trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Market cap of the firm rose to Rs 24,105 crore on BSE. The Indian Railway firm has gained 246.30 % in a year and risen 47.66% in 2023.
In the construction operations, the railway sector accounts for 94% of the revenue mix. The company carries out its railway construction services on a turnkey basis. In the infrastructure development business, IRCON develops and maintains railways and roads on a build, operate, and transfer (BOT) mode.
IRCON share price today: The stock of the state-owned engineering and construction firm zoomed 6.75% to Rs 106.43 against the previous close of Rs 99.70 on BSE. Market cap of the firm rose to Rs 9928 crore on BSE.
Ircon International stock rose up to 3.5 today after the company s board cleared issue of bonus shares. The stock touched an intraday high of Rs 92.4 rising 3.59% against previous close of Rs 89.20 on BSE. The stock opened with a gain of 3.36% at Rs 92.2