Share price under Rs 200: Multibagger railway stock secured over Rs 1600 crore order last week
This railway company is none other than IRCON International Limited. IRCON is a navratna company under the Ministry of Railways.
Last week (July 14-18), IRCON bagged three new orders. These are as follows:
In an exchange filing on July 18, the company said, 'Mumbai Metropolitan Region Development Authority has awarded the work to Ircon International Limited for CA-233, Line-6, Package-2: Design, Manufacture, Supply, Installation, Integration, Testing and Commissioning of Power Supply and Traction, E & M, Lifts & Escalators including 5 Years of Comprehensive Maintenance after 2 Years of Defect Liability Maintenance Period of Line 6 [Swami Samarth Nagar to Vikhroli (EEH)] of Mumbai Metro Rail Project of MMRDA.' The project cost is Rs 642,44,02,451.34.
In a separate filing, the railway company said, ' Mumbai Metropolitan Region Development Authority has awarded the work to Ircon International Limited for CA-239, Line-5, Package-2: Design, Manufacture, Supply, Installation, Integration, Testing And Commissioning of 220 kV receiving Substation Including 220 kV, 33kV & 25kV Cabling Work, Complete 25kV Overhead Catenary System along with switching station, 33kV Auxiliary Power Distribution System Including 33/0.415 kV Auxiliary Sub-Station (ASS) And Complete SCADA System, Electrical and Mechanical works, Lift & Escalator Works for part of Main Line, Stations & Kasheli Depot of Mumbai Metro Rail Line 5 Project of MMRDA Including 5 Years of Comprehensive Maintenance after 2 Years of Defect Liability and Maintenance Period.' The project cost is Rs 471,29,72,820.
In a filing on Friday, the company said, ' IRCON has been awarded with Letter of Award for the project floated by RVNL (Participated in this bid in JV mode with M/s JPWIPL (i.e., IRCON – 70% & JPIWL – 30%).' Here the total project amount is Rs 755,78,21,993.63 (IRCON Share – Rs 529,04,75,395.53),' the company said.
Shares of IRCON closed in red on Friday (July 18). The PSU railway stock settled at Rs 186.74 apiece, down 1.60 per cent on NSE.
IRCON International Limited is a component of the BSE 500. According to the BSE analytics (as of July 20), shares of IRCON gave negative returns in the last 1 week and 2 weeks, by 2.20 per cent and 6.27 per cent, respectively. Shares of the PSU railway stock also fell in the last 1 year by 40.25 per cent. However, in the past 2 years, 3 years, and 5 years, shares of the company rose 116.15 per cent, 405.27 per cent, and 307.03 per cent, respectively.
This year, IRCON paid a dividend of Rs 1.65 in February. Last year, the PSU railway stock declared total dividends of Rs 3.10.
IRCON issued bonuses in the ratio of 1:1 for the equity shareholders.
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