Ircon International jumped 7.57% to Rs 94.55 after the company was awarded the work of upgradation of Gurgaon-Pataudi-Rewari section of NH-352W as feeder route in Haryana by the NHAI.
Ircon International on Thursday announced that it has been awarded the work of upgradation of Gurgaon- Pataudi-Rewari section of NH-352 (design length of 46.11 km) as a feeder route in the state of Haryana by National Highways Authority of India (NHAI). The order has been awarded on a Hybrid Annuity Mode and is valued at Rs 900 crore.
The project will be undertaken & executed by a Special Purpose Vehicle (SPV) which shall be incorporated by the company as its wholly-owned subsidiary company, Ircon International said.
Ircon International is an engineering and construction, specialized in transport infrastructure and is wholly owned by the Ministry of Railways. As on 30 September 2020, the Government of India held 89.18% stake in the company.
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