Shares of Ircon International Ltd surged 7% after the company secured a ₹1,096 crore contract for constructing the New Secretariat Complex in Shillong, Meghalaya. The contract, awarded by the Directorate of Urban Affairs, Government of Meghalaya, is based on an Engineering, Procurement, and Construction (EPC) model.
The project is a joint venture with Badri Rai and Company (BRC), where Ircon holds a 26% stake, translating to approximately ₹285 crore of the total contract value. The construction timeline is set at 36 months, with the new complex expected to serve as a modern administrative hub enhancing governance and public administration in the state.
The project scope includes the design and construction of advanced office buildings, development of roads and utilities, and incorporation of sustainability measures like energy-efficient designs.
Ircon International’s shares opened at ₹143.60, reaching a high of ₹150.40 and a low of ₹142.70 during today’s trading session. The stock remains significantly below its 52-week high of ₹351.60, while staying above the 52-week low of ₹134.24.
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