Ircon International share price up 3% on Rs 1,900 crore order from Indian Railways

The tenure for execution of the projects varies from 15 to 20 months from the date of signing of agreement with the zonal railways, the company said.

Ircon International share price jumped 3 percent intraday on September 17 after the company bagged an order worth Rs 1,900 crore from Indian Railways.

lrcon International Limited has secured railway electrification works for various routes of 2251 Route Kilo meter (RKM) worth approximately Rs 1,900 crore on competitive bidding basis among PSUs from the Ministry of Railways, Government of India, the company said in an exchange filing.

The tenure for the execution of the projects varies from 15 to 20 months from the date of signing of agreement with the zonal railways. A Memorandum of Understanding (MoU) will be executed between the PSU and the concerned Zonal Railway, the company said.

The stock was trading at Rs 85.75, up Rs 2.50, or 3.00 percent at 13:02 hours. It has touched an intraday high of Rs 86.70 and an intraday low of Rs 83.

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