Ircon International bags Rs 80-crore railway job, but stock trades lower

Ircon International bags Rs 80-crore railway job, but stock trades lower

The entire work shall be completed within 18 months from the date of issue of Letter of Acceptance

Ircon International

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Ircon International shares traded marginally down on Tuesday despite the company winning a Rs 80-crore contract from Workshop Projects Organization of the Indian Railways.

At 10:46am, shares of Ircon International were trading at Rs 91.46, down Rs 1.35, or 1.45 percent.

Ircon International has been awarded the composite works (civil, electrical and mechanical) involving construction of industrial shop with pre-engineered building (PEB), water supply system, drainage system, electrification and illumination works, associated telecom works and supplying and commissioning of specified Mechanical Machineries (EOT cranes etc.) in connection with detachment free rake examination facilities (Ph-II) at exchange yard of Bondamunda, South Eastern Railway.

The entire work shall be completed within 18 months from the date of issue of the Letter of Acceptance i.e. up to January 23, 2025.

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On July 17, the company was awarded the work for supply, installation, testing and commissioning of Integrated tunnel communication systems, OFC-based industrial-grade network system, including laying of OFC and other cables for railway network, which includes tunnels and stations in the Jiribam-Khongsang section of the Jiribam-Imphal Railway Line Project at a total price of Rs 144 crore.

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