IRCON Stock to watch: IRCON International Ltd., as part of a joint venture with Paras Railtech Private and PCM Strescon Overseas Ventures, has bagged a ₹750.82 crore order from Rail Vikas Nigam Ltd (RVNL).
The project involves the design, supply, installation, testing, and commissioning of a broad gauge ballastless track (BLT), along with the supply of ballast and track installation (excluding rails and sleepers) for the new broad gauge line between Rishikesh and Karanprayag (125 km) in Uttarakhand, India.
IRCON’s share in the joint venture is 60%, while Paras Railtech and PCM Strescon hold 25% and 15%, respectively. The project is expected to be completed in 42 months.
IRCON International Limited (IRCON) is an Indian engineering and construction company, specializing in transport infrastructure. It is a public sector undertaking that was established in 1976 by the Indian Railways.
IRCON Stock Price performance | NSE: IRCON Stock to watch
IRCON share price (on July 04, 2024)
IRCON share price performance (on July 04, 2024) has been positive, with the stock showing an upward trend compared to its previous close.
The IRCON stock opened at ₹278 and touched a high of ₹284 during the day. It also reached a low of ₹277.05 and finally closed at Rs.280.50. The current price reflects a slight decline from the day’s high but still indicates a positive performance compared to the opening price and previous close.
IRCON stock price performance has been impressive in recent years, with significant growth and positive returns for investors.
Over the past few years, IRCON shares have experienced substantial growth, with a multi-fold increase from previous lows.
IRCON share price Key Insights:
Strong Growth: The stock has delivered excellent returns, outperforming the Nifty Infrastructure index. Over a 3-year period, IRCON has generated a return of over 475%, while the Nifty Infrastructure has returned 96%.
Financial Performance: The company has demonstrated solid financial performance, with robust revenue and profit growth in recent years. This has contributed to the positive investor sentiment surrounding the stock.
Debt-Free Status: IRCON is virtually debt-free, which is a positive factor for investors as it indicates a healthy financial position.
High Promoter Holding: The company has a high promoter holding of 65.17%, suggesting confidence from the promoters in the company’s future prospects.
Disclaimer: The above details are not financial advice. Please conduct your own research and consult with a financial advisor before making any investment decisions. The article is only for news, educational and information updates purpose only.