Today, on 18th March 2025, Indian Railway Construction International Limited experienced a sudden spike of 7% in stock values since the opening bell. The contract IRCON signed with the Meghalaya Government is restoring investor sentiment, resulting in higher trades.
The Directorate of Urban Affairs of the Government of Meghalaya signed with IRCON to build the new Secretariat Complex, including Campus Infrastructure in New Shillong City, over the next 36 months. IRCON is working with JV Badri Rai and Company on the newly awarded projects. According to the company’s exchange filing, the contract is worth Rs. 1,096 crore.
Today, IRCON’s shares opened to the market at Rs. 143.60 and are currently up by 2.4% compared to the opening bell rates and 6.3% compared to the previous session close of 138.17.
IRCON Share Price in Today’sToday’s Market
At 10:15., IRCON share price stood at Rs. 147.98, nearly 3% higher/lower than the opening rate. And 6.8% higher than its previous close. According to the reports and estimates on Money Control, the current market capitalisation shows 13,902 cores; the UC Limit is 165.80, and the LC Limit is 110.53.
Company Financials
IRCON is a public-sector engineering and construction company under the Ministry of Railways. It specialises in transport infrastructure projects, including railways, highways, and extra high voltage (EHV) substation engineering and construction.
For the third quarter of FY 2024-25, the company’s revenue declined by 11% and the Net Profit by 65% to Rs. 86 crore; the EBITDA also suffered a significant decline. The company declared an interim dividend of Rs.1.65 per share, committed to providing returns to its shareholders.
Recent News About IRCON
- Shri Anand Bhatia was appointed Government Nominee (Part-Time Official) Director on IRCON’s Board, effective from 4th February 2025.
- IRCON achieved a milestone in the Rishikesh-Karanprayag railway project with a tunnel breakthrough in segment 8, marking progress in this infrastructure endeavour.
IRCON Share Price Target
Trendlyne’s experts reported that Ircon International Ltd. has an average target of 268. The consensus estimated an upside of 81.00% from the last price of 148.07.
Recommendation On Buy, Sell, Or Hold?
Despite the contracts, most market analysts recommend selling the shares. Only Antique Stock Broking, one of three analysts reporting IRCON, recommended holding the shares. , IDBI Capital Markets and Equirus Securities recommended selling the shares.
Before investing in IRCON, consider its long-term performance and consult your analyst to make the perfect move. The above article is for informational purposes only. Indiahood does not give any advise on investing.
