Latest news with #IrconInternationalLtd
Hans India
a day 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
a day 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 Standard
a day ago
- Business
- Business Standard
Nava Ltd leads gainers in 'A' group
Ircon International Ltd, Railtel Corporation of India Ltd, Texmaco Rail & Engineering Ltd and Mahanagar Telephone Nigam Ltd are among the other gainers in the BSE's 'A' group today, 04 June 2025. Ircon International Ltd, Railtel Corporation of India Ltd, Texmaco Rail & Engineering Ltd and Mahanagar Telephone Nigam Ltd are among the other gainers in the BSE's 'A' group today, 04 June 2025. Nava Ltd spiked 12.71% to Rs 551.3 at 11:46 IST. The stock was the biggest gainer in the BSE's 'A' group. On the BSE, 2.48 lakh shares were traded on the counter so far as against the average daily volumes of 35056 shares in the past one month. Ircon International Ltd surged 10.69% to Rs 214.8. The stock was the second biggest gainer in 'A' group. On the BSE, 27.46 lakh shares were traded on the counter so far as against the average daily volumes of 5.75 lakh shares in the past one month. Railtel Corporation of India Ltd soared 8.80% to Rs 433.75. The stock was the third biggest gainer in 'A' group. On the BSE, 3.95 lakh shares were traded on the counter so far as against the average daily volumes of 3.15 lakh shares in the past one month. Texmaco Rail & Engineering Ltd gained 8.54% to Rs 174.05. The stock was the fourth biggest gainer in 'A' group. On the BSE, 5.35 lakh shares were traded on the counter so far as against the average daily volumes of 2.46 lakh shares in the past one month. Mahanagar Telephone Nigam Ltd exploded 6.77% to Rs 53.14. The stock was the fifth biggest gainer in 'A' group. On the BSE, 21.62 lakh shares were traded on the counter so far as against the average daily volumes of 6.48 lakh shares in the past one month.
Business Upturn
3 days ago
- Business
- Business Upturn
Ircon International shares rise over 2% after bagging Rs 1,068 crore railway bridge contract
By Aditya Bhagchandani Published on June 2, 2025, 10:17 IST Shares of Ircon International Ltd gained over 2% to ₹194.94 in Monday's session following the company's announcement of a major order win. The stock rose after the company disclosed that it has received a Letter of Acceptance (LoA) from East Central Railway, Indian Railways, for the construction of a major railway bridge project across the Ganga river. According to the disclosure submitted under Regulation 30 of SEBI (LODR) Regulations, the contract is for engineering, procurement, and construction (EPC) of a new broad-gauge (BG) rail bridge consisting of a 2×32.086m and 33×122.0m Open Web Steel Girder span. The bridge will feature a sub-structure for double-line tracks and a superstructure for a single-line track between Bikramshila and Katareah stations. The total contract value stands at ₹1,068.35 crore and the project is expected to be completed within 1,460 days. This is a domestic works contract and does not involve any related party transactions. As of 10:13 AM, Ircon shares were trading at ₹194.94, up 2.11% from the previous close of ₹190.91. The stock hit an intraday high of ₹198, with a market cap of ₹183.26 billion. 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.
Mint
29-05-2025
- Business
- Mint
Amrit Bharat boost: Stocks to benefit from station modernisation
For FY25, Indian Railways allocated ₹12,994 crore for 'customer amenities". This includes funding for station redevelopment projects like the Amrit Bharat Station Scheme (ABSS). The scheme intends to upgrade and modernise over 1,300 stations across the country. It involves creating master plans and executing them in phases to enhance various station facilities, including station accessibility, waiting areas, toilets, lift and escalator installations, free Wi-Fi, kiosks for local products through initiatives like 'One Station, One Product', passenger information systems, executive lounges, spaces for business meetings, landscaping, and unique requirements of each station. With a vision to transform railway stations into vibrant urban centres, the state-run companies in the railway sector will play a crucial role, making them attractive for long-term investors. Also Read: Four stocks to watch as India's space economy eyes $44 billion by 2033 This article highlights a few stocks that will benefit from Indian Railways' Amrit Bharat Station Scheme. Have a look... Ircon International Ltd Ircon International Ltd (IRCON) commenced its business in 1976 as a railway construction company. It was awarded the Navratna status by the department of public enterprises, ministry of finance, in October 2023. It offers comprehensive project management and consultancy (PMC) services from planning to commissioning in the entire spectrum of projects for the construction of railway sidings, highways, railways, and roads over bridges, buildings, etc. Ircon's service portfolio includes engineering, procurement, and construction (EPC) services, which align with the ABSS mission to modernise 1,300 railway stations across India. The company has completed about 400 infrastructure projects in India and 128 projects in 25 countries globally, including Iran, Iraq, Jordan, Turkey, Malaysia, Nigeria, Brazil, etc. It has a huge client base, including NHAI, BHEL, Delhi Metro, Indian Oil, NTPC, NMDC, Power Grid Corporation of India, Nigerian Railway, Bangladesh Railway, Zambia Railways, etc. Recently, the company has secured a contract of ₹253 crore from South Western Railway for the implementation of KAVACH, an indigenous train collision avoidance system. Also Read: Four fast-growing space stocks to add to your watchlist Its revenue grew at a compounded annual growth rate (CAGR) of 32.1% over the past three years, while its net profit grew at a CAGR of 33.5%. The company maintained strong financial health, with an average RoE of 14.4% and RoCE of 17.3%. Rail Vikas Nigam Ltd Incorporated in 2003 by the Government of India, it is engaged in the business of implementing various types of rail infrastructure projects assigned by the ministry of railways (MoR). This includes doubling, gauge conversion, new lines, railway electrification, major bridges, workshops, production units and sharing of freight revenue with the railways as per the concession agreement with the MoR. Anticipated turnover for the coming years is projected at ₹ ₹28,000-30,000 crore annually, with a gestation period of three to four years for project execution. Infrastructure projects like Thiruvananthapuram Central Railway Station redevelopment, worth ₹439 crore and electrification projects of the Southern Railway, worth ₹143 crore, are a demonstration of RVNL's capability to handle large-scale infrastructure developments. This makes the company a strong contender for future ABSS-related assignments. In Q4 FY25, RVNL secured new orders worth ₹6,600 crore, bringing the total order inflow for FY25 to ₹13,700 crore. Indian Railway Finance Corp. Ltd (IRFC) Incorporated in 1986, IRFC borrows funds from the financial markets to finance the acquisition/creation of assets, which are then leased out to Indian Railways as a finance lease. Also Read: This luggage leader is staging a turnaround. But can it overcome its baggage? It is the funding arm of Indian Railways, which provides loans to various companies working in the sector, such as RVNL, Konkan Railway Corp. Ltd, IRCON, RailTel Corp. of India Ltd, Pipavav Railway Corp. Ltd, etc. The company is exploring opportunities to invest in railway infrastructure projects, including dedicated freight lines, high-speed rail corridors, and multi-modal logistics parks. The company received the Navratna status in FY25 and is working towards Maharatna status. Recently, the company secured government approval to raise up to ₹10,000 crore for its infrastructure projects through deep-discount bonds. Its revenue grew at a CAGR of 19.1% over the past three years, while its net profit grew at a CAGR of 13.2%. The company maintained strong financial health, with an average RoE of 13.9%. RailTel Corp. of India Incorporated in 2000, the company creates nationwide broadband and VPN services, telecom, and multimedia networks to modernise Indian Railways' train control operation and safety system. It is a Navratna public sector undertaking and one of the largest neutral telecom infrastructure providers in India, owning a pan-India optic fibre cable network (OFC), which can serve up to 70% of the country's population. Its RailWire broadband service has over 580,000 subscribers. It has executed critical projects of national importance such as BharatNet, National Knowledge Network (NKN), railway signalling, etc. The ABSS emphasises the enhancement of passenger amenities, including the provision of free Wi-Fi, digital signage, and advanced information systems. RailTel, with its extensive optical fiber network covering is well-positioned to implement and manage these digital services. Its revenue grew at a CAGR of 23.1% over the past three years, while its net profit grew at a CAGR of 20%. The company maintained strong financial health, with an average RoE of 12.9% and RoCE of 18%. Conclusion The ABSS scheme offers a unique opportunity to strengthen the role of these railway PSUs in India's rail infrastructure growth. IRCON and RVNL will gain through increased project execution, construction, and engineering opportunities. Also Read: Trent's 1,000% rally takes a breather. Can a Sensex rejig revive its fortunes? IRFC will gain through supporting the large-scale financing needs of Indian Railways' expanding asset base. RailTel will play a key role in providing the digital backbone, smart station technologies, and passenger connectivity services. However, one factor to keep in mind is that any change in budget priorities, political shifts, or delays in project approvals can directly hit their financials. Investors should evaluate the company's fundamentals, corporate governance, and valuations of the stock before making any investment decisions. Happy Investing. Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. This article is syndicated from
