This railway construction company bags Rs 122 crore worth of orders from Sri Lanka Railways

The shares of this company surged more than 3 per cent.

Ircon International (IRCON) has been given the contract by Sri Lanka Railways, Ministry of Transport, Sri Lanka, for the Design, Installation, Testing, Commissioning, and Certifying of signalling and Telecommunication system from Maho junction to Anuradhapura at a total cost of USD 14.89 Million, equivalent to roughly Rs 122 crore. 

The contract length for this work is 24 months, and it was awarded through a competitive bidding process. The contract is offered under the Indian line of credit. 

Ircon International Limited (IRCON) is a railway construction company, engineering and construction PSU specializing in large and technologically complex infrastructure projects in various sectors such as railways, highways, etc. The company has completed more than 300 projects in India and more than 100 projects across the globe in more than 21 countries. 

Today, the stock opened at Rs 65.85 and made a high and low of Rs 66.80 and 65.10. The stock previously closed at Rs 64.85. Currently, it is trading at Rs 65.40 up by 0.85 per cent. 

In the last 6 months, the shares of the company have given 68.51% returns and on a YTD basis, the stock has given 44.57 per cent return.

The stock has a 52-week high of Rs 66.80 and a 52-week low of 34.80. The company has a ROCE of 14.0 per cent and an ROE of 13.0 per cent. It has a market capitalisation of Rs 6,156 crore.