Ircon Bags ₹1,198 Cr Project from East Coast Railway

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Synopsis:

 Ircon International, in a joint venture with DRA, secures the Letter of Award (LOA) for the Kothavalasa-Koraput Doubling Project. The contract, valued at ₹1198.09 Crores, covers the construction from Sivalingapuram Station to Borra Guhalu Station, boosting rail infrastructure in the Waltair Division of East Coast Railway.

Ircon International News Today

Ircon International Limited, in partnership with Dineshchandra R Agrawal Infracon Pvt Ltd (DRA), has clinched the Letter of Award (LOA) for the construction of the Kothavalasa-Koraput Doubling Project.

Explore: Ircon International Ltd Share Price

Project Details

The project, part of the Waltair Division's infrastructure enhancement plan, entails doubling the railway tracks from Km. 45.483 to Km. 72.550, spanning from Shivalinga Puram Station to Borra Guhalu Station. This significant development aims to augment rail connectivity and efficiency in the region, benefiting both passengers and freight operations.

The announcement of securing the contract has had a positive impact on Ircon International's stock performance. On the Bombay Stock Exchange (BSE), Ircon's shares saw a notable surge, reaching ₹250.80, up from the previous close of ₹243.60.

Additional Read: Share Market News

Stock Performance

Throughout the trading session on Friday, Ircon's stock witnessed substantial activity, with a total of 1,275,399 shares traded across 11,381 transactions. The stock's intraday movement reflected strong investor interest, reaching a high of ₹253.20 and a low of ₹242.65.

The total net turnover for the day amounted to ₹3.15 crore, showcasing significant market activity and confidence in Ircon's prospects.

Sources:

https://infra.economictimes.indiatimes.com/news/railways/ircon-bags-rs-1200-cr-order/109676221

https://www.zeebiz.com/companies/news-ircon-bags-railway-project-worth-rs-1200-crore-in-joint-venture-286979

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This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.

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