Ircon International surges 29% in three days on good Q3 results

The company's consolidated earnings before interest, tax, depreciation, and amortisation (Ebitda) margin improved to 12.7 per cent in Q3FY20

Shares of Ircon International rallied 9 per cent and hit a new high of Rs 572 on the BSE on Friday after reporting margin improvement of 185 basis points in the quarter ended December 2019 (Q3FY20).

The stock of the state-owned construction & engineering company was trading at its highest level since listing on September 28, 2018. In the past three trading days, the stock has surged 29 per cent, as compared to a marginal 0.35 per cent rise in the S&P BSE Sensex.

The core competence of Ircon is in railways, highways & extra high tension substation