Introduction:
Leading infrastructure company has signed MoUs with Northeast Frontier Railway for outsourcing TRD maintenance and breakdown services. The projects, valued at ₹89 crore, involve work at depots in Tinsukia and Lumding Divisions, with a 24-month execution timeline.
Also Read: Stocks to Consider for This New Year 2025
Share price movement of IRCON:
On December 27, 2024, IRCON International Ltd opened at ₹213.80, up 3.08% from its previous close of ₹207.40. The stock reached a high of ₹213.80 (3.08%) and a low of ₹208.75. By 10:19 AM, it traded at ₹208.95, a 0.75% increase, with a market cap of ₹19,652.08 crore.
IRCON Signs MoU with Northeast Frontier Railway:
IRCON International Limited has executed Memorandums of Understanding (MoUs) with Northeast Frontier Railway for outsourcing TRD maintenance and breakdown attention under two major projects. The projects are in the Tinsukia and Lumding Divisions of Northeast Frontier Railway.
The projects are valued at approximately ₹39 crore for Tinsukia Division and ₹50 crore for Lumding Division, totaling ₹89 crore. The work will involve the maintenance of newly commissioned OHE and PSI assets at nine and eleven depots, respectively.
The contracts are domestic and cost-plus, with a 24-month execution timeline. The total value of both projects is approximately ₹89 crore. No related-party transactions or promoter interests are involved, ensuring transparency and compliance with regulations.
Stock performance of IRCON for Period of 1 week, 6 months and 1 year:
IRCON International Ltd has seen a 1-week decline of 4.99%, alongside a 6-month dip of 23.1%. However, the company has posted a solid 1-year return of 22.6%, reflecting strong long-term growth despite recent short-term challenges.
Also Read: Ai stock jumps 6% after it enters into JV with platinum group for manufacturing of robots in the UAE
Shareholding pattern of IRCON:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 65.20% | 65.20% | 65.20% |
| FII | 3.90% | 4.20% | 4.60% |
| DII | 1.90% | 3.20% | 1.60% |
| Public | 29.00% | 27.50% | 28.70% |
About IRCON:
Ircon International Limited (NSE: IRCON) began in 1976 as a railway construction company and diversified in 1985 into integrated engineering and construction, specializing in large, complex infrastructure projects across sectors like railways and highways.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
