Shares of Ircon International Ltd skyrocketed 9% on Friday, 31 January, after the company announced that its Joint Venture (JV) received a contract from the Public Works Department (PWD) Manipur.
The Office of the Project Director, Externally Aided Projects (EAP), Public Works Department (PWD), Manipur, has awarded an EPC contract to the joint venture (JV) of AMRIL (74%) and IRCON (26%) through a Letter of Acceptance.
The contract involves the construction of rigid pavement and lined drainage for selected roads under the Imphal East Division (ED – 2), Package 3, covering a total road length of 122.209 km.
The total contract value is Rs 631.20 crore, with IRCON’s share amounting to Rs 164.11 crore. The project is expected to be completed within 36 months.
In December, Northeast Frontier Railway awarded the business a contract of Rs 89 crore.
The share hit a 52-week high of Rs 351.65 on 15 July 2024 and a 52-week low of Rs 175.25 on 14 March 2024.
At 12:51 pm, the shares of Ircon International were trading 7.07% higher at Rs 217.04 on NSE.
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