What sparked 9% rally in Ircon International share on March 18? Details

The rally in Ircon International share price came after the company was awarded an EPC contract, in JV {Badri Rai and Company (BRC) (74%) -Ircon International (26%) JV}, by Meghalaya government

Ircon International share price: Shares of Ircon International were in demand on Tuesday, March 18, 2025, as the scrip popped as much as  8.82 per cent to hit an intraday high of Rs 150.45 per share.

 

The rally in Ircon International share price came after the company was awarded an EPC contract, in JV {Badri Rai and Company (BRC) (74 per cent) -Ircon International (26 per cent) JV}, by Directorate of Urban Affairs, Government of Meghalaya.

 

Ircon International, via an exchange filing said, “It is to inform that IRCON has been awarded an EPC contract floated by Directorate of Urban Affairs, Government of Meghalaya, Raitong Building, Secretariat Hills, Shillong, Meghalaya, India in JV {Badri Rai and Company (BRC) (74 per cent) -IRCON (26 per cent) JV} LoA by Directorate of Urban Affairs, Government of Meghalaya, Raitong Building, Secretariat Hills, Shillong, Meghalaya, India.”  ALSO READ | Stock Market LIVE: Sensex gains 600 pts, at 74,800; Nifty at 22,700; Financials, Auto, SMID climb 1%

 

Under the terms of the award, the JV will be responsible for the construction of New Secretariat Complex including Campus Infrastructure on Engineering, Procurement and Construction (EPC) Basis in New Shillong City, Meghalaya.

 

The contract is expected to be executed in 36 months, or 3 years.  

 

Ircon International Q3 results 

 

Ircon International reported a 64.8 per cent Y-o-Y fall in net profit to Rs 86.1 crore in Q3FY25, from Rs 244.7 crore in Q3FY24. The company's revenue jumped  10.8 per cent Y-o-Y to Rs 2,612.9 crore in Q3FY25, from Rs 2929.5 crore a year ago (Q3FY24).

 

About Ircon International

 

Established in 1976 under the Indian Companies Act 1956 by Indian Railways, Ircon International Limited (Ircon) is an engineering and construction corporation specialising in transport infrastructure.  ALSO READ | Star Cement up 4% as arm bags license for limestone block in Assam

 

The company specialises in turnkey construction services, including railways (new lines, rehabilitation/conversion, stations, bridges, tunnels, signalling, electrification, and locomotive leasing), highways, EHV sub-station projects, and metro rail systems.

 

Over the years, it has diversified into various segments of transport and infrastructure development.

 

At 9:36 AM, Ircon International shares were trading 7.81 per cent higher at Rs 149.05. In comparison, BSE Sensex was trading 0.70 per cent higher at 74,686.06 levels.