Ircon Share Price Today Surges: Railway PSU Stock Gains 9% After Mega Order Win

Shares of Ircon International Ltd. witnessed a sharp rally on Tuesday, gaining nearly 9% intraday. The surge comes after the railway PSU announced a massive EPC contract worth ₹1,096 crore from the Government of Meghalaya. The order win has sparked renewed investor interest in railway stocks, leading to a broader sectoral rally.

Ircon Share Price Today on BSE and NSE

Ircon shares are currently trading at The Ircon stock opened gap-up at ₹143.50 on the Bombay Stock Exchange (BSE), compared to its previous close of ₹138.25. The bullish momentum pushed the share price to an intraday high of ₹150.45, registering an 8.82% gain.

On the National Stock Exchange (NSE), IRCON shares are witnessing a significant volume spike, outperforming the Nifty Infrastructure and PSU indices by 3.04%.

Why is Ircon International's share price rising?

The rally in Ircon's share price today is mainly due to the major contract win. Yesterday, Ircon secured a Rs. 1,096 crore order for constructing a new secretariat complex in New Shillong City.

Additionally, railway stocks currently are gaining momentum. Most of the railway PSUs, like IRCTC, Rail Vikas Nigam Ltd. (RVNL), RITES, and RailTel, have been trending higher due to strong earnings growth.

Ircon stock had corrected 32.86% in the last year, and today's rally is indicating a potential trend reversal.

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Ircon Share Performance Movement

Ircon shares are trading at Rs.114.60 at the time of writing, up 4.65% today. Over the past five days, the stock has declined by 0.72%, while it has dropped 4.30% in the past month, 36.49% in the past six months, and 33.83% year-to-date. The stock previously touched a 52-week high of Rs.351.65, while the 52-week low stands at Rs.134.24.

Ircon's ₹1,096 Crore Order Details

Ircon, in joint venture with Badri Rai and Company (BRC), won the EPC contract floated by the Directorate of Urban Affairs, Government of Meghalaya. The contract entails the construction of a new secretariat complex in New Shillong City with a timeline specified as 36 months. Ircon's stake in the JV is reported to be 26%.

Ircon International Q3 Financials

Ircon International's Q3FY25 financial performance was weaker than expected, with adjusted EBITDA falling 28% YoY to ₹1.3 billion. However, the decline in adjusted PAT was limited to 3% YoY, aided by higher other income and a lower tax rate. The company has secured ₹17 billion in order inflows year-to-date (YTD FY25), maintaining an order book of ₹219 billion.
As per the antique brokerage report, "the pace of new project execution may be slow, as Ircon has guided for flat revenue growth in FY26E compared to FY25E. A key concern is the declining order book, which has been shrinking since FY22, dropping from ₹437 billion in FY22 to ₹325 billion in FY23, ₹272 billion in FY24, and ₹219 billion in 9MFY25."

About Ircon International

Ircon International Limited, a Miniratna (Category - I) PSU, is a leading engineering and construction company specializing in transport infrastructure projects. Established in 1976 under the Indian Railways, Ircon has played a crucial role in the development of railway networks, highways, bridges, tunnels, airports, and electrification projects across India and abroad.