Ircon International Limited has informed the Exchange about Bagging/Receiving of orders/contracts
IRCON · price
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On the reaction day the stock moved 1.4 pts more than Nifty Smallcap 250 and 1.5 pts more than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Ircon International has received a Letter of Acceptance from North Western Railway for providing a Remote Diagnostic & Predictive Maintenance System across four sections covering Jaipur, Ajmer, Bikaner, and Jodhpur divisions. The contract is a domestic works contract valued at approximately Rs. 51.62 crore (Rupees Fifty One Crore, Sixty One Lakh, Seventy Two Thousand, Four Hundred and Eighteen and Eighty One Paise). The work is to be completed within 24 months from the date of the LOA. The order has been awarded by a domestic government entity and is not a related party transaction.
This is a modest new order win from a government (Indian Railways) entity, adding to Ircon's order book. At ~Rs. 51.62 crore, it is a routine contract and unlikely to materially move the stock price, but it reinforces Ircon's steady pipeline of railway infrastructure work.