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Railway PSU stock IRCON International surged over 4 per cent in morning trade on the BSE on Monday
IRCON Shares
IRCON Share Price: Railway PSU stock IRCON International surged over 4 per cent in morning trade on the BSE on Monday, July 21, defying broader market weakness. The stock opened at Rs 192.10 compared to its previous close of Rs 186.95 and rose 4.30 per cent to hit an intraday high of Rs 195. By around 10 AM, IRCON was trading 2.46 per cent higher at Rs 191.55.
Why Is IRCON Share Price Rising?
The rise in IRCON’s share price came after the company announced fresh order wins from Rail Vikas Nigam Ltd (RVNL) and the Mumbai Metropolitan Region Development Authority (MMRDA).
Post market hours on Friday, July 18, IRCON said it had received a letter of award for a significant infrastructure project floated by RVNL. The project was bagged in joint venture with JPWIPL, with IRCON holding a 70 per cent stake and JPWIPL the remaining 30 per cent.
The Rs 642 crore order involves the design, manufacturing, supply, installation, integration, testing, and commissioning of systems such as power supply and traction, E&M, lifts, and escalators for Mumbai Metro Line 6 (Swami Samarth Nagar to Vikhroli). The scope also includes five years of comprehensive maintenance following a two-year defect liability period.
IRCON Share Price History
IRCON appears poised to end a three-day losing streak with today’s gain. However, the stock has faced selling pressure in 2024, with a decline of 12 per cent year-to-date.
On a monthly basis, IRCON is down over 5 per cent in July, after climbing more than 6 per cent in June and 25 per cent in May. The stock hit a 52-week low of Rs 134.30 on March 3, after reaching a 52-week high of Rs 329.50 on July 19 last year.
The share touched a 52-week high of Rs 327.95 and a 52-week low of Rs 134.30 on 23 July, 2024, and 03 March, 2025, respectively. Currently, the stock is trading 41.15% below its 52-week high and 43.71% above its 52-week low. The market capitalisation of the company stands at Rs 18,151.95 crore.
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Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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