During the turmoil in the stock market, there is a flow of news in some stocks. There are reports of Ircon International getting new orders. The order book of this company is continuously increasing. There are reports of the company getting a big order from the railways.

IRCON International Limited (IRCON) has bagged a significant contract from Northeast Frontier Railway for outsourcing of Traction Distribution (TRD) maintenance and breakdown attention work. This contract awarded by a domestic unit covers 20 OHE depots in Tinsukia and Lumding divisions. The total contract value is about Rs 89 crore, with the value of each contract being about Rs 39 crore and Rs 50 crore respectively.
These contracts are domestic in nature and they are not cost plus contracts. The orders/contracts are to be executed within a time frame of 24 months.

Earlier, IRCON-Paras-PCM, a joint venture between IRCON, Paras Railtech and PCM Stresscon bagged a contract worth Rs 7,50,82,79,068.08 from Rail Vikas Nigam Limited (RVNL) for laying 125 km broad gauge ballastless track between Rishikesh and Karnprayag in Uttarakhand.

IRCON has 60 percent stake in it, Paras Railtech has 25 percent and PCM Stresscon has 15 percent stake. The project is expected to be completed in 42 months.

Ircon International Ltd

IRCON International is a leading Indian infrastructure company specializing in railways and highways. Established in 1976, the company has executed over 400 domestic and 128 international projects. IRCON, which provides engineering, purchasing, procurement, and project management services, is involved in projects in both public and private sectors.

Order Book Update: The total order book as of September 30, 2024, is Rs 24,253 crore, the details of which are as follows:

Railways – Rs 18,959 crore
Highways – Rs 5,210 crore and
Others – Rs 84 crore.

IRCON is a PSU company with a market cap of over Rs 19,000 crore and has reported positive numbers in its quarterly results (Q2FY25) and half-yearly results (H1FY25). The stock has given a multi-bagger return of 285 percent in just 2 years, while the BSE Sensex index has gained 29.2 percent.