Shares of Ircon International Ltd soared 5% on 15 April after the state-owned engineering and construction company secured an order worth Rs 127.80 crore from S&T (Construction) of the North Western Railway, Indian Railways.
As per the company’s filing, the project entails the design, manufacturing, supply, installation, testing, and commissioning of a microprocessor-based Electronic Interlocking (EI) system. The scope includes work at 20 stations within the Ajmer Division, incorporating automatic block signalling and related signalling and telecom systems.
The execution period for the project is set at 24 months from the date the Letter of Acceptance (LOA) is issued, the company informed stock exchanges.
On 28 March, through its joint venture with SSNR Projects, the company secured the LOA for this project valued at ₹872.69 crore, floated by Rail Vikas Nigam.
Earlier, on 17 March, the company, in partnership with Badri Rai and Company (BRC), was awarded an EPC contract worth ₹1,096.17 crore by the Directorate of Urban Affairs, Government of Meghalaya. Ircon’s share in the project stands at 26%, amounting to ₹285 crore.
Ircon International, a government-owned entity, specializes in comprehensive infrastructure construction services. Its key strengths lie in railway and highway construction, extra-high voltage (EHV) substations, and mass rapid transit (MRT) systems.
The company operates across various Indian states and internationally in countries like Malaysia, Nepal, Bangladesh, Mozambique, Ethiopia, Afghanistan, the UK, Algeria, and Sri Lanka. According to its website, Ircon has completed over 300 infrastructure projects in India and more than 100 overseas.
At 12:54 pm, the shares of Ircon International were trading 4.68% higher at Rs 156.60 on NSE.
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