Rs 29,436 crore order book and FIIs & DIIs increase stake: This multibagger railway stock secures new orders worth Rs 630 crore!
Shares of the company grew by about 300 per cent in the last one year.
Ircon International Ltd. has secured a contract worth Rs. 630.66 crore from the National Highways & Infrastructure Development Corporation Limited (NHIDCL) for constructing a bypass tunnel in Mizoram. This domestic project involves building a 2.5 km twin-tube tunnel with 2.1 km of approach roads on the Sairang-Phaibawk section of NH-6 using the Engineering, Procurement and Construction (EPC) mode. The project is expected to be completed within 36 months and will improve traffic flow by bypassing Aizawl city.
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In Q3FY24, the company posted a 22.92 per cent decrease in its consolidated revenue at Rs 2884.22 crore compared to Rs 2346.51 crore from the previous year’s corresponding quarter. The operating profit of the company stood at Rs 341.03 crore, while the PAT of the company stood at Rs 207.59 crore, from Rs 199.03 crore last year in the same quarter. The shares of the company have multibagger returns of about 300 per cent in the last one year and FIIs and DIIs increased their stake in the company in December 2023 respectively.
Ircon International Limited (IRCON) commenced its business in 1976 as 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 has an order book of Rs 29,436 crore.
The stock has shown impressive growth, and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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