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Ircon International share price increases 4% on multiple deal wins; details
Around 1:10 PM, Ircon International share price was trading 2.01 per cent higher at ₹190.70 per share. In comparison, BSE Sensex was trading 0.40 per cent higher at 82,084.18 levels.
Why were Ircon International shares buzzing in trade today?
Ircon International share price was in focus today after the company announced securing multiple infrastructure project contracts.
Firstly, Ircon International Limited received a Letter of Award (LoA) from Rail Vikas Nigam Limited (RVNL) for an infrastructure project in Madhya Pradesh. The contract has been awarded to a joint venture (JV) between IRCON (70 per cent share) and JPWPL (30 per cent share).
The scope of the work includes the construction of roadbed, minor bridges, buildings, and installation of track (excluding the supply of rails, sleepers, and thick web switches), along with electrical, signaling, and telecommunication (S&T) works.
These civil engineering and general electrical works will be carried out in connection with the new broad gauge (BG) railway line between Pipariya (Km 82100) and Budni (Km 180000), under the Bhopal Division of the West Central Railway in Madhya Pradesh.
The contract is classified as a domestic item rate contract, and the total duration for execution is 36 months, along with a 6-month defect liability period. The total contract value is ₹755.78 crore, out of which IRCON's share amounts to ₹529.04 crore.
Secondly, Mumbai Metropolitan Region Development Authority (MMRDA) has awarded a contract to Ircon International for the execution of works related to the Mumbai Metro Line 5 (Package-2).
The scope of the contract involves detailed design, manufacturing, supply, installation, integration, testing, and commissioning of the 220 kV receiving substation, including 220 kV, 33 kV, and 25 kV cabling work. Additionally, the project covers a 25 kV overhead catenary system (OCS) along with switching stations, auxiliary substations (ASS), and complete SCADA system integration.
The awarded contract also includes electrical and mechanical works, lift and escalator works for parts of the main line, stations, and the Kasheli Depot. The total duration for the contract execution is 108 weeks, followed by 2 years of Defect Liability and Maintenance Period (DLMP), and an additional 5 years of comprehensive maintenance thereafter.
The contract has been awarded as a domestic work contract, and its total value stands at ₹471.29 crore, inclusive of taxes.
Lastly, Ircon International has been awarded a contract by the Mumbai Metropolitan Region Development Authority (MMRDA) for the execution of key systems works under Mumbai Metro Line 5. The awarded contract pertains to CA-233, Line-5, Package-2, and includes the design, manufacture, supply, installation, integration, testing, and commissioning of the power supply and traction system. It also covers lift and escalator works, along with 2 years of Defect Liability Maintenance and 5 years of Comprehensive Maintenance.
The scope of work includes Electrical and Electromechanical (E&M) works, as well as systems for the Electrical and Electromechanical Interface (EEEI) of the Mumbai Metro Rail Project of MMRDA.
The total contract value is ₹642.44 crore, excluding taxes. The project is expected to be executed over a period of 104 weeks, followed by 2 years of Defect Liability Maintenance and 5 years of Comprehensive Maintenance after the completion of the defect liability period.
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.
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.
The market capitalisation of Ircon International is ₹18,043.7 crore, according to BSE. The company falls under the BSE 500 index category.
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