Ircon International Share Price Rises 7% As The Company Bags ₹862-Crore Contract For New Railway Lines
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Ircon International shares rose 7% after receiving an ₹862.46-crore railway EPC contract from East Central Railway. The work covers track construction across sections of the Son Nagar–Andal project and must be completed within 365 days.
Ircon International shares climbed 7% to ₹111.68 on Tuesday after the railway construction company received an ₹862.46-crore contract from East Central Railway.
The company informed through a regulatory filing that it has received a Letter of Acceptance for track-related work under the Son Nagar–Andal project, which involves building the third and fourth railway lines.
The contract covers the Gomoh–Koderma and Gaya–Son Nagar sections. Ircon will supply ballast and permanent way materials, lay and link tracks designed to handle an axle load of 32.5 tonnes, and carry out other related work. The order also includes supplying permanent way materials at Gaya.
East Central Railway's Construction Organisation, based in Patna, awarded the contract. Ircon has 365 days to complete the work.
The company said the contract does not involve any related-party transaction and that its promoters have no interest in the organisation awarding the order.
Ircon Shares Still Down 38% In A Year
Tuesday's rise comes after a difficult year for the stock. Ircon International shares have fallen around 38% over the past 12 months, leaving the company with a market capitalisation of about ₹9,847 crore. The stock is trading at a price-to-earnings ratio of 18.81 and a price-to-book ratio of 1.48.
At 11:06 AM, Ircon’s share price stood at ₹105.87 on the National Stock Exchange (NSE), up 1.09%.
Institutional Holding Edges Up
Shareholding data for the September 2026 quarter showed a small increase in institutional ownership. Foreign institutional investors raised their stake from 4.61% to 4.62%, while mutual funds increased their holdings from 0.29% to 0.31%.
The stock's technical trend remains weak despite Tuesday's recovery. Trendlyne data shows Ircon International trading below seven of its eight key simple moving averages (SMAs).
This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Vishwa has spent 10+ years across fintech and FMCG doing what most people miss, connecting the dots, catching trends before they trend, and finding the angle nobody else thought to ask about.
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