Ircon Shares Zoom 9% After JV Wins EPC Contract Worth Rs 1,096 Crore; Should You Buy? – News18
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Shares of Ircon International witnessed strong demand on Tuesday, March 18, 2025, with the stock jumping by as much as 9%
Ircon Share Price Today
Ircon International Share Price: Shares of Ircon International witnessed strong demand on Tuesday, March 18, 2025, with the stock jumping by as much as 8.82%, reaching an intraday high of Rs 150.45 per share.
This surge in Ircon’s share price came after the company was awarded an EPC contract by the Directorate of Urban Affairs, Government of Meghalaya. The contract was secured through a joint venture (JV) with Badri Rai and Company (BRC), where BRC holds 74% and Ircon International holds 26%. The project involves the construction of a new secretariat complex and campus infrastructure in New Shillong City, Meghalaya, set to be completed in 36 months.
However, the company reported a significant 65% drop in its net profit, which fell to Rs 86 crore from Rs 244.7 crore in the same period last year. Additionally, the company’s revenue declined by 10% to Rs 2,612.86 crore, compared to Rs 2,929.54 crore in the previous year.
Ircon’s stock has seen considerable volatility, hitting a 52-week high of Rs 351.65 on July 15, 2024, and a 52-week low of Rs 134.30 on March 3, 2025. As of now, the stock is trading 57.98% below its 52-week high and 10.01% above its 52-week low.
The company’s market capitalization currently stands at Rs 13,896.12 crore. Ircon’s stock has lost nearly 50% of its value in the last 9 months.
Founded in 1976 by Indian Railways under the Indian Companies Act, Ircon International is a leading engineering and construction corporation specializing in transport infrastructure. The company is known for its turnkey construction services in railways, highways, EHV sub-station projects, and metro rail systems, and has diversified into various other segments of transport and infrastructure development.
Analysts’ View:
Ircon International is covered by three analysts, none of whom have a “buy” recommendation on the stock. Antique Stock Broking has a “hold” rating with a price target of Rs 153, while IDBI Capital Markets and Equirus Securities have given a “sell” recommendation with price targets of Rs 143 and Rs 144, respectively.
