Ircon International share price up 3% on Rs 1,900 crore order from Indian Railways

Ircon International share price up 3% on Rs 1,900 crore order from Indian Railways

Ircon International share price jumped 3 percent intraday on September 17 after the company bagged an order worth Rs 1,900 crore from Indian Railways.

lrcon International Limited has secured railway electrification works for various routes of 2251 Route Kilometer (RKM) worth approximately Rs 1,900 crore on a competitive bidding basis among PSUs from the Ministry of Railways, Government of India, the company said in an exchange filing.

The tenure for the execution of the projects varies from 15 to 20 months from the date of signing of an agreement with the zonal railways. A Memorandum of Understanding (MoU) will be executed between the PSU and the concerned Zonal Railway, the company said.