On NSE, the shares of Multibagger railway construction company IRCON touched a new record high on Friday, July 12. The stock price reached an intraday high of Rs 349.45 however it closed Marginally lower at Rs 336.75 with 5.27% gain . The railway construction company recently bagged a big order worth Rs 7,508,279,068 due to which the stock price increased. Check out more details.
Order Details
Multibagger Railway Company IRCON international bagged a huge order worth Rs 7,508,279,068 from RVNL. IRCON has made partnerships with Paras Railtech Private Limited and PCM Strescon Overseas Ventures Limited for this project. IRCON holds 60% of the stake in this order while Paras Railtech has 25% and the remaining 15% by PCM overseas ventures Ltd.
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According to the order, these three companies will handle design, supply, installation, testing and commissioning of the project. The joint venture will be responsible for making a ballastless track over 125 Km between Rishikesh and Karanprayag in Uttarakhand. The project will be completed within 3.5 Years.
About the Company
Incorporated in 1976, IRCON international is a leading construction company. The main business of the company is making Railway Infrastructure and highways all over the world. The company provides engineering procurement, construction, and project management services to both domestic and international clients.
Order Book of IRCON international
According to the available data, IRCON had a total order book of Rs 27,208 crore as of March, 2024. The market cap of the company is Rs 31,676.57 crore.
Investors should keep an eye on the upcoming union budget as well as the company’s financial performance for future growth.
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