Rs 35,339 crore order book: Multibagger civil construction stock hits 52-week high as it receives order worth Rs 144 crore from N F Railway Construction!
The stock gave multibagger returns of 150 per cent in just 1 year whereas BSE Mid-cap Index is up by 24.85 per cent.
On Friday, one of the Top Gainers on BSE, shares of Ircon International surged 7.10 per cent to make a new 52-week high of Rs 95.04 per share from its previous closing of Rs 88.75. At the closing bell, shares of the company were trading at Rs 93.19 per share, up 5 per cent with a spurt in volume by more than 3.66 times on BSE.
Ircon International Limited (IRCON) informed that it has been awarded the work for supply, installation, testing and commissioning of integrated tunnel communication systems, OFC-based industrial grade network system including laying of OFC & other cables for Railway network which includes tunnels and stations in Jiribam-Khongsang section of Jiribam-Imphal new Railway Line Project at a total price of Rs 144 crore.
This work has been awarded by N F Railway Construction on a competitive bidding basis and the entire work shall be completed within 365 days from the date of issuance of Letter of Acceptance.
Ircon International Limited (IRCON) is a railway construction company, it diversified progressively since 1985 as an integrated engineering and construction PSU specializing in large and technologically complex infrastructure projects in various sectors such as railways, highways, etc. The company's total order book as of March 31, 2023 stands at Rs 35,195 crore and including the above order the company's current order book stands at Rs 35,339 crore.
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Regarding the financials, IRCON is a PSU company with a market cap of over Rs 8,500 crore. The company reported excellent numbers in its Quarterly Results and annual results.
The stock gave multibagger returns of 150 per cent in just 1 year whereas BSE Mid-Cap Index is up by 24.85 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.