Latest news with #Ircon
Hans India
5 days ago
- Business
- Hans India
Ircon Stock Soars After Rs 898 Crore Project Boost
Shares of Ircon International Ltd went up by almost 14% on Wednesday. This happened after the company won several new projects and because people are feeling positive about the government spending more on infrastructure. By 2:47 pm, Ircon's stock was trading at Rs 220.97, which is Rs 27.03 higher than the day before. It reached a high of Rs 221.03 during the day. The stock went up even though the overall market was not doing very well. In May, Ircon got new projects worth over Rs 898 crore. These include work in railways, power, and industrial development. Some important projects are: A project worth Rs 187 crore to build a rural industrial park in Thiruvananthapuram, Kerala. A Rs 458.14 crore project for civil construction work at the Tato-I Hydro Electric Project in Arunachal Pradesh. A Rs 253.6 crore contract to install the KAVACH train safety system on 778 km of railway lines in the Bengaluru and Mysuru areas. Other railway-related company stocks also went up: RITES rose by 6.5% Texmaco Rail & Engineering went up 8% Titagarh Rail Systems increased by 4% HBL Power Systems gained over 3% Even though Ircon's earnings in the last quarter were not strong—its profit fell by 3.8% to Rs 246.8 crore, and its operating profit (EBITDA) dropped by 56.3%—investors are hopeful because of the new contracts and future spending on infrastructure. Analysts are still careful and have set an average target price of Rs 158, which is lower than the current price. But the stock's rise in the last three months, especially today's jump, shows that people trust Ircon's ability to handle big projects and grow in the future.
Time of India
5 days ago
- Business
- Time of India
Ircon shares surge nearly 14% on multiple orders & capex boost
Representative image S hares of Ircon International Ltd soared nearly 14 percent on Wednesday following a flurry of new project wins and optimism around infrastructure-linked capital expenditure. At 2:47 pm, Ircon's stock was trading at Rs 220.97, up Rs 27.03 or 13.94 percent for the day. The intraday high touched Rs 221.03, marking a strong recovery amid broader market volatility. The rally comes after the company secured contracts worth over Rs 898 crore in May across railway, power, and industrial infrastructure. Among other railway-related stocks, RITES climbed 6.5 percent, Texmaco Rail & Engineering rose 8 percent, Titagarh Rail Systems gained 4 percent, while HBL Power Systems advanced more than 3 percent. Among the major deals, Ircon won an Rs 187 crore project from Kerala State IT Infrastructure Ltd to build a rural industrial park in Thiruvananthapuram. It also bagged an Rs 458.14 crore civil works contract from North Eastern Electric Power Corporation for the Tato-I Hydro Electric Project in Arunachal Pradesh, according to an ET report. In addition, the South Western Railway awarded Ircon an Rs 253.6 crore contract to implement the indigenous KAVACH train collision avoidance system across 778 route kilometres in Bengaluru and Mysuru divisions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Madukhali: Scholarships You Can Apply For (Start Now) Google Search Search Now Undo These wins, aligned with the government's infrastructure push, have improved investor sentiment despite recent earnings pressure. While Ircon reported a 3.8 percent year-on-year decline in Q4FY24 net profit to Rs 246.8 crore, and a sharp 56.3 percent fall in EBITDA, the new contracts and expected capex upcycle appear to have overshadowed near-term financial softness. Analysts have assigned a cautious outlook with an average target price of Rs 158, suggesting downside from current levels. However, the stock's rise over the past three months, bolstered by today's surge, indicates growing market confidence in its project execution capabilities and future growth prospects. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Business Upturn
21-05-2025
- Business
- Business Upturn
Ircon International shares rise nearly 2% after securing Rs 253.6 crore KAVACH system contract
By Aditya Bhagchandani Published on May 21, 2025, 09:46 IST Shares of Ircon International Ltd rose 1.94% to ₹191.95 on Tuesday following the announcement of a significant contract win. The stock opened higher at ₹188.40 and touched an intraday high of ₹193.80, compared to the previous close of ₹188.30. The uptick comes after Ircon revealed that it has bagged a Rs 253.6 crore work order from South Western Railway for the implementation of the indigenous train collision avoidance system, KAVACH. The project will be deployed across 778 route kilometers in the Bengaluru and Mysuru divisions. As per the exchange filing, the scope of work includes the survey, design, supply, installation, testing, and commissioning of the KAVACH system along with other associated components. The contract timeline is set at 18 months from the date of the Letter of Acceptance (LOA). The stock movement comes despite the company reporting a subdued set of Q4 FY24 results earlier. Net profit declined 3.8% YoY to Rs 246.8 crore while revenue dipped slightly by 1% YoY to Rs 3,742.7 crore. EBITDA rose to Rs 286.3 crore, improving margins to 7.7%. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Business Upturn
24-04-2025
- Business
- Business Upturn
Ircon International secures variation order worth Rs 59.44 crore from Northeast Frontier Railway
Ircon International Ltd has announced a significant development in the Jiribam-Imphal new Railway Project with the receipt of a variation order from the Northeast Frontier Railway. This update marks a major milestone in the infrastructure push across the northeastern region of India. The variation order involves the supply, installation, testing, and commissioning of Integrated Tunnel Communication Systems and an OFC-based industrial-grade network. It also includes laying of optical fiber cables and other related network infrastructure, essential for ensuring seamless communication throughout the railway network. This additional scope has resulted in an increase in the contract value by ₹59.44 crore, raising the total to ₹203.61 crore from the original ₹144.17 crore. The order was placed by the office of the Deputy Chief Signal and Telecommunication Engineer (Construction), Silchar, under the North East Frontier Railway. The original contract was inked on February 20, 2024, and with the new variation included, the project is expected to be completed by June 30, 2025. The Jiribam-Imphal railway line is a vital project that aims to enhance connectivity and economic development in the region. The installation of advanced tunnel communication systems and network infrastructure is crucial for ensuring operational safety and efficiency in this strategically important terrain. Ircon's involvement in this ambitious project underscores its expertise and continued commitment to developing critical railway infrastructure in challenging geographies. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
