Ircon International shares rise over 2% after bagging Rs 1,068 crore railway bridge contract
Shares of Ircon International Ltd gained over 2% to ₹194.94 in Monday's session following the company's announcement of a major order win. The stock rose after the company disclosed that it has received a Letter of Acceptance (LoA) from East Central Railway, Indian Railways, for the construction of a major railway bridge project across the Ganga river.
According to the disclosure submitted under Regulation 30 of SEBI (LODR) Regulations, the contract is for engineering, procurement, and construction (EPC) of a new broad-gauge (BG) rail bridge consisting of a 2×32.086m and 33×122.0m Open Web Steel Girder span. The bridge will feature a sub-structure for double-line tracks and a superstructure for a single-line track between Bikramshila and Katareah stations.
The total contract value stands at ₹1,068.35 crore and the project is expected to be completed within 1,460 days. This is a domestic works contract and does not involve any related party transactions.
As of 10:13 AM, Ircon shares were trading at ₹194.94, up 2.11% from the previous close of ₹190.91. The stock hit an intraday high of ₹198, with a market cap of ₹183.26 billion.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions.
Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
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