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.
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