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Ircon International surges on securing International Railway Contract worth $91.27 million

03 May 2019

Ircon International is currently trading at Rs. 409.90, up by 10.40 points or 2.60% from its previous closing of Rs. 399.50 on the BSE.

The scrip opened at Rs. 411.00 and has touched a high and low of Rs. 414.05 and Rs. 409.65 respectively. So far 662 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 470.00 on 17-Dec-2018 and a 52 week low of Rs. 338.00 on 25-Oct-2018.

Last one week high and low of the scrip stood at Rs. 414.05 and Rs. 392.20 respectively. The current market cap of the company is Rs. 3757.36 crore.

The promoters holding in the company stood at 89.18%, while Institutions and Non-Institutions held 5.23% and 5.58% respectively.

Ircon International has been awarded an International Railway Contract worth around $91.27 million (equivalent to Rs 635 crore) from Sri Lanka Railways under the Ministry of Transport & Civil Aviation, Government of Sri Lanka.

The contract is for up-gradation of the Northern Railway line from Maho-Omanthai in Sri Lanka. Under the contract, IRCON will upgrade single line broad gauge track from Maho-Omantha of around 128 km length including associated infrastructure works.

Ircon International is an integrated Indian engineering and construction company, specializing in major infrastructure projects, including, railways, highways, bridges, flyovers, tunnels, aircraft maintenance hangars, runways, EHV sub-stations, electrical and mechanical works, commercial and residential properties, development of industrial areas, and other infrastructure activities.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323