Latest news with #Ircon
Time of India
3 days ago
- Business
- Time of India
Ircon International shares jump over 4% on bagging multiple contracts
Synopsis Ircon International's shares saw a rise following the acquisition of contracts valued at Rs 755.78 crore. A joint venture with RVNL secured a project, with Ircon's share at Rs 529.04 crore. MMRDA awarded Ircon contracts for Mumbai Metro Lines 5 and 6. The company's Q4 net profit saw a slight decline.
Business Upturn
6 days ago
- Business
- Business Upturn
Ircon bags three major orders worth over Rs 1,668 crore for metro and railway projects
By Aditya Bhagchandani Published on July 18, 2025, 20:01 IST Ircon International Limited on Friday announced that it has secured three significant contracts from domestic clients — Mumbai Metropolitan Region Development Authority (MMRDA) and Rail Vikas Nigam Limited (RVNL) — with a combined order value exceeding ₹1,668 crore. MMRDA – Mumbai Metro Line-5 Ircon received a Letter of Acceptance from MMRDA for Mumbai Metro Line-5 (Thane-Bhiwandi-Kalyan), Package-3, valued at approximately ₹471.3 crore and €2.84 million (about ₹496 crore). Scope of work includes: Design, supply, installation, testing, and commissioning of a 220 kV receiving substation, 220/33/25 kV cabling, and complete 25 kV overhead catenary system. Construction of switching stations, auxiliary power distribution, SCADA systems, electrical & mechanical works, lifts, escalators, and depot equipment. Five years of comprehensive maintenance after two years of defect liability. The project is scheduled for 108 weeks plus maintenance. MMRDA – Mumbai Metro Line-6 Ircon also bagged another contract from MMRDA for Mumbai Metro Line-6 (Swami Samarth Nagar to Vikhroli EEH), Package-2, valued at approximately ₹642.44 crore and €2.79 million (about ₹669 crore). Scope of work includes: Design, manufacture, supply, installation, integration, testing, and commissioning of power supply & traction systems, E&M works, lifts, and escalators. Includes five years of comprehensive maintenance post a two-year defect liability period. This project will be executed in 104 weeks, plus maintenance. Ircon clarified that both MMRDA contracts are with domestic entities and do not involve any related-party transactions. RVNL – Pipaliya Nankar to Budni Railway Line The third contract was awarded by Rail Vikas Nigam Limited (RVNL) to an Ircon-JPWIPL joint venture, with Ircon's share at 70%. The total contract is valued at about ₹755.78 crore , with Ircon's share being ₹529.05 crore . The project involves construction of roadbed, bridges, buildings, track installation (excluding rails, sleepers, thick web switches), general electrical works for the new BG railway line between Pipaliya Nankar and Budni in Madhya Pradesh . Scheduled to be completed in 36 months, plus six months of defect liability. These wins highlight Ircon's strong execution capability in the metro, railway, and urban transport segments, reinforcing its leadership in delivering large, complex infrastructure projects across India. Ahmedabad Plane Crash 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.
Business Upturn
6 days ago
- Business
- Business Upturn
Ircon bags Rs 642 crore Mumbai Metro Line-6 contract from MMRDA
Ircon International Limited announced on Friday that it has received a Letter of Acceptance (LOA) from the Mumbai Metropolitan Region Development Authority (MMRDA) for a significant contract under Mumbai Metro Rail Project's Line-6. The contract, valued at approximately ₹642.44 crore and €2.79 million (inclusive of all taxes and charges except GST and customs duty), involves the design, manufacture, supply, installation, integration, testing, and commissioning of power supply and traction systems, E&M, lifts and escalators. The scope of work also includes five years of comprehensive maintenance after a two-year defect liability maintenance period. The project is to be executed over a design-build period of 104 weeks, followed by the maintenance phases. Advertisement The work pertains to Package-2 of Line-6 (Swami Samarth Nagar to Vikhroli EEH) of the Mumbai Metro, and has been awarded by a domestic entity. Ircon clarified in its filing that neither its promoters nor group companies have any interest in MMRDA, and the transaction does not qualify as a related-party transaction. This contract underscores Ircon's continued presence in the infrastructure and urban transport sector, building on its track record of executing complex metro and railway projects across India. Disclaimer: The information provided is based on the company's stock exchange filing and is for informational purposes only. It should not be construed as investment advice. Please consult your financial advisor before making any investment decisions.
Hans India
04-06-2025
- Business
- Hans India
Ircon Stock Soars After Rs 898 Crore Project Boost
Shares of Ircon International Ltd went up by almost 14% on Wednesday. This happened after the company won several new projects and because people are feeling positive about the government spending more on infrastructure. By 2:47 pm, Ircon's stock was trading at Rs 220.97, which is Rs 27.03 higher than the day before. It reached a high of Rs 221.03 during the day. The stock went up even though the overall market was not doing very well. In May, Ircon got new projects worth over Rs 898 crore. These include work in railways, power, and industrial development. Some important projects are: A project worth Rs 187 crore to build a rural industrial park in Thiruvananthapuram, Kerala. A Rs 458.14 crore project for civil construction work at the Tato-I Hydro Electric Project in Arunachal Pradesh. A Rs 253.6 crore contract to install the KAVACH train safety system on 778 km of railway lines in the Bengaluru and Mysuru areas. Other railway-related company stocks also went up: RITES rose by 6.5% Texmaco Rail & Engineering went up 8% Titagarh Rail Systems increased by 4% HBL Power Systems gained over 3% Even though Ircon's earnings in the last quarter were not strong—its profit fell by 3.8% to Rs 246.8 crore, and its operating profit (EBITDA) dropped by 56.3%—investors are hopeful because of the new contracts and future spending on infrastructure. Analysts are still careful and have set an average target price of Rs 158, which is lower than the current price. But the stock's rise in the last three months, especially today's jump, shows that people trust Ircon's ability to handle big projects and grow in the future.
Time of India
04-06-2025
- Business
- Time of India
Ircon shares surge nearly 14% on multiple orders & capex boost
Representative image S hares of Ircon International Ltd soared nearly 14 percent on Wednesday following a flurry of new project wins and optimism around infrastructure-linked capital expenditure. At 2:47 pm, Ircon's stock was trading at Rs 220.97, up Rs 27.03 or 13.94 percent for the day. The intraday high touched Rs 221.03, marking a strong recovery amid broader market volatility. The rally comes after the company secured contracts worth over Rs 898 crore in May across railway, power, and industrial infrastructure. Among other railway-related stocks, RITES climbed 6.5 percent, Texmaco Rail & Engineering rose 8 percent, Titagarh Rail Systems gained 4 percent, while HBL Power Systems advanced more than 3 percent. Among the major deals, Ircon won an Rs 187 crore project from Kerala State IT Infrastructure Ltd to build a rural industrial park in Thiruvananthapuram. It also bagged an Rs 458.14 crore civil works contract from North Eastern Electric Power Corporation for the Tato-I Hydro Electric Project in Arunachal Pradesh, according to an ET report. In addition, the South Western Railway awarded Ircon an Rs 253.6 crore contract to implement the indigenous KAVACH train collision avoidance system across 778 route kilometres in Bengaluru and Mysuru divisions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Madukhali: Scholarships You Can Apply For (Start Now) Google Search Search Now Undo These wins, aligned with the government's infrastructure push, have improved investor sentiment despite recent earnings pressure. While Ircon reported a 3.8 percent year-on-year decline in Q4FY24 net profit to Rs 246.8 crore, and a sharp 56.3 percent fall in EBITDA, the new contracts and expected capex upcycle appear to have overshadowed near-term financial softness. Analysts have assigned a cautious outlook with an average target price of Rs 158, suggesting downside from current levels. However, the stock's rise over the past three months, bolstered by today's surge, indicates growing market confidence in its project execution capabilities and future growth prospects. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
