Ircon International up 5% on ₹127-crore contract from North Western Railway

Ircon International was trading at ₹156.31, up 4.5 per cent from Friday's close of ₹149.60 on the National Stock Exchange

Ircon International share price: Shares of state-owned engineering and construction company, Ircon International, jumped nearly 5 per cent to hit an intraday high of ₹157.25 on Tuesday after the company bagged an order worth ₹127.80 crore from S&T (Construction) of the North Western Railway, Indian Railways. 

 

According to the company filing, the project involves the designing, manufacturing, supply, installation, testing, and commissioning of a microprocessor-based EI system. It comprises work across 20 stations in the Ajmer Division along with automatic block signalling and associated signalling and telecom systems.

 

The order is expected to be executed within 24 months from the date of issue of the letter of acceptance (LOA), the company informed the exchanges. 

 

At 10:00 AM, the stock was trading at ₹156.31, up 4.5 per cent from Friday’s close of ₹149.60 on the National Stock Exchange. In comparison, the benchmark NSE Nifty50 index was trading at 23,325.85, up 497.30 points or 2.18 per cent. The company’s total market capitalisation stood at ₹14,740.70 crore. 

 

The stock has fallen around 56 per cent from the 52-week high of ₹351.60, it touched on July 15, 2024. On a year-to-date basis, the stock has tanked around 28 per cent compared to around 1.1 per cent fall in the Nifty50 index. 

 

Ircon International Q3 flashback

In the December 2024 quarter (Q3 FY25), Ircon International reported consolidated revenue from operations of ₹2,447.52 crore, up 6.7 per cent compared to ₹2,612.86 crore in the year-ago period. However, the company’s profit after tax (PAT) fell over 58 per cent to ₹86.1 crore in Q3 FY25 from ₹205.92 crore in Q3 FY24. 

 

About Ircon International

Ircon International is a government-owned specialised construction company covering the entire spectrum of construction activities and services in the infrastructure sector. However, railway and highway construction, extra-high voltage (EHP) sub-stations and MRTs (mass rapid transit) are the core competence areas of the company. Ircon has operations in several Indian states and abroad including Malaysia, Nepal, Bangladesh, Mozambique, Ethiopia, Afghanistan, the United Kingdom, Algeria and Sri Lanka. According to the company website, it has so far completed more than 300 infrastructure projects in India and over 100 projects in other countries.