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 2.1 pts more than Nifty Smallcap 250 and 1.8 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 Award from Rail Vikas Nigam Limited (RVNL) for a railway infrastructure project in Madhya Pradesh. The total contract is valued at ₹755.78 crore (inclusive of GST), with Ircon's share being ₹529.05 crore under a joint venture with JPWIPL (Ircon 70%, JPWIPL 30%). The scope includes construction of roadbed, minor bridges, buildings, track installation, and other civil and electrical works for a new broad-gauge railway line between Pipaliya Nankar and Budni stations (about 69 km) on the Bhopal Division of West Central Railway. The project is domestic, to be executed in 36 months plus a 6-month defect liability period. No related party interest is involved.
This is a healthy order win for Ircon from a government PSU, adding meaningfully to its order book and providing revenue visibility over the next three years. The contract strengthens Ircon's position in the domestic railway construction segment but is unlikely to cause a sharp stock move on its own.