DSIJ Mindshare

Rs 27,208 crore order book: Multibagger railways construction stock jumps 10 per cent today; Earlier bagged order worth Rs 7,50,82,79,068.08 from RVNL
Kiran Shroff
/ Categories: Trending, Multibaggers

Rs 27,208 crore order book: Multibagger railways construction stock jumps 10 per cent today; Earlier bagged order worth Rs 7,50,82,79,068.08 from RVNL

The stock gave multibagger returns of 221 per cent in just 1 year whereas BSE Sensex Index is up by 23 per cent.

On Monday, shares of Ircon International Ltd surged 10 per cent to an intraday high of Rs 302.35 per share from its previous closing of Rs 274.70. At the closing bell, shares of the company were trading at Rs 298.90 per share, up 8.81 per cent with a spurt in volume by more than 1.01 times on BSE.

Order Update: IRCON, in partnership with Paras Railtech Private Limited and PCM Strescon Overseas Ventures Limited, has secured a substantial contract from Rail Vikas Nigam Limited (RVNL). The joint venture, known as IRCON-PARAS-PCM, will be responsible for designing, supplying, installing, testing, and commissioning a new broad gauge ballastless track (BLT) along a 125-kilometer stretch between Rishikesh and Karanprayag in Uttarakhand, India. The project, valued at Rs 7,50,82,79,068.08, excludes the supply of rails and track sleepers. IRCON will hold a 60 per cent stake in the joint venture, while Paras Railtech and PCM Strescon will contribute 25 per cent and 15 per cent, respectively. The entire project is expected to be completed within a 42-month timeframe. This contract marks a significant development for IRCON and its partners, reinforcing their position in the railway infrastructure sector.

About the Company

Ircon International is a leading Indian infrastructure company specializing in railways and highways. Founded in 1976, it has executed over 400 domestic and 128 international projects. Offering engineering, procurement, construction, and project management services, Ircon is involved in both public and private sector projects.

DSIJ's DSIJ's ‘Mid Bridge’ service recommends well researched Mid-Cap stocks for smart investing. If this interests you, do download the service details here.

Order Book Update: The total order book as of March 31, 2024, stands at Rs 27,208 crore.

The break-up of which is as follows:

  1. Railways – Rs 21,158 crore
  2. Highways – Rs 5,964 crore and
  3. Others – Rs 86 crore.

IRCON is a PSU company with a market cap of over Rs 28,000 crore and reported positive numbers in its Quarterly Results (Q4FY24) and annual results (FY24). The stock gave multibagger returns of 221 per cent in just 1 year whereas BSE Sensex Index is up by 23 per cent. Investors should keep an eye on this railway construction company’s stock.

Disclaimer: The article is for informational purposes only and not investment advice.

Also Read: FIIs bought 27,17,11,310 shares & DIIs bought 2.87 per cent stake in Q1FY25: LIC-backed multibagger stock at Rs 65 locked in upper circuit & hit 52-week high on July 26 

Previous Article Rs 16,252 crore order book: TATA Group-multibagger solar microgrid power company signs MoU with National Dairy Development Board (NDDB); details inside!
Next Article Rs 10,290 crore order book: This multibagger power transmission cables company introduces optical connectivity portfolio for the US market; details inside!
Print
33940 Rate this article:
3.5
Please login or register to post comments.
DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR