Ircon International shines as its JV gets LOA worth Rs 750.82 crore
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Ircon International is currently trading at Rs. 292.85, up by 13.25 points or 4.74% from its previous closing of Rs. 279.60 on the BSE.
The scrip opened at Rs. 288.50 and has touched a high and low of Rs. 295.00 and Rs. 286.45 respectively. So far 975090 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 301.40 on 21-May-2024 and a 52 week low of Rs. 79.00 on 13-Jul-2023.
Last one week high and low of the scrip stood at Rs. 295.00 and Rs. 267.50 respectively. The current market cap of the company is Rs. 27392.52 crore.
The promoters holding in the company stood at 65.17%, while Institutions and Non-Institutions held 6.16% and 28.67% respectively.
Ircon International’s (IRCON) Joint Venture -- IRCON-PARAS- PCM has been awarded a Letter of Award (LOA) for the work of ‘Design, supply, installation, testing and commissioning of broad gauge ballastless track (BLT), supply of ballast and installation of track (excluding supply of rails and track sleepers) between chainage 6+015 (FLS) to 125+200 (FLS) in connection with New BG line between Rishikesh and Karanprayag (125km) in the state of Uttarakhand, India. The size of contract is Rs 750.82 crore.
Ircon International has been awarded a Letter of Award through a Joint Venture i.e. IRCON- Paras Railtech- PCM Strescon Overseas Ventures [IRCON-PARAS-PCM (JV)] in the ratio of 60:25:15 respectively.
Ircon International is an integrated Indian engineering and construction company, specializing in major infrastructure projects.
