Ircon International Share: A Strong Rise in Stock Due to an Order of Rs 1,198 Crore
Ircon International Share Company, a key player in Indian Railways construction, has recently received a substantial order of Rs 1,198 crore. This has led to a significant rise in the company's stock, yielding impressive returns of 80% over the past six months. Currently, the financial condition of the company is robust.
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A Brief History of Ircon International
Established on April 28, 1976, as the Indian Railway Construction Company Private Limited, Ircon International has been primarily involved in railway construction. The company's portfolio extends beyond railways to highways, bridges, tunnels, aircraft maintenance hangars, runway substations, and mechanical work. Additionally, it also manages commercial property development and infrastructure in industrial areas.
Ircon International Latest Share News
On March 16, 2024, the company secured an order worth Rs 630.66 crore from the state of Mizoram. This order, under the National Highway and Infrastructure Development Corporation, is to be completed by Ircon International within 36 months.
The company has now received an even larger order of Rs 1,198.09 crore. This order, received under the East Coast Railway's Waltair division, is part of a doubling project. The company, in a joint venture with Dineshchandra R Aggarwal Infracon, is expected to complete the order within 1260 days.
Financial Strength
Ircon International's financial condition is quite strong. The company is completely debt-free and has a free cash flow of Rs 4,785.32 crores. The promoter's holding in the company is 65.17%, leading to a total market cap of Rs 24,011.37 crores.
Conclusion
The recent developments at Ircon International Share Company highlight the company's growth trajectory and financial strength. However, it's important to note that investing in the stock market carries risks. Therefore, potential investors are advised to seek expert advice before making investment decisions.
Disclaimer:
The information provided in this blog post is for informational purposes only. sharemarket-buzz.com does not advise investing in the stock market without expert advice. The stock market is subject to risk.