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IRCON Intl firms up after setting record date for stock split

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IRCON International rose 0.57% to Rs 301.60 after the company fixed 7 April 2020 as the record date for stock split.

The company will split one equity share of face value Rs 10 each into five equity shares of face value Rs 2 each (5-for-1). The announcement after market hours yesterday, 24 March 2020.

IRCON International's consolidated net profit jumped 52.5% to Rs 142.43 crore on a 3.3% decline in net sales to Rs 1,210.95 crore in Q3 December 2019 over Q3 December 2018.

IRCON International is an engineering and construction, specialized in transport infrastructure and is wholly owned by the Ministry of Railways.

As on 31 December 2019, the Government of India held 89.18% stake in IRCON International.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, March 25 2020. 10:14 IST