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IRCON International stock rises 5% as firm wins Rs 1,900-crore orders

IRCON International shares trade higher than 5-day moving averages but lower than 20, 50, 100 and 200-day moving averages

twitter-logoBusinessToday.In | September 17, 2020 | Updated 16:55 IST
IRCON International stock rises 5% as firm wins Rs 1,900 crore orders
Market capitalisation of the firm stood at Rs 4,086.54 crore as of today's closing session.

Shares of engineering and construction firm IRCON International rose over 5% today after the company said it secured orders worth about Rs 1900 crore for railway electrification works from the Ministry of Railways.

IRCON International share price touched an intraday high of Rs 87.7 rising 5.35% against its last closing value of Rs 83.25 on BSE.

The stock also touched an intraday low of Rs 23, also its opening price today. IRCON International stock has gained after 2 days of consecutive fall.

IRCON International shares trade higher than 5-day moving averages but lower than 20, 50, 100 and 200-day moving averages. Market capitalisation of the firm stood at Rs 4,086.54 crore as of today's closing session.

IRCON International stock price gained 5.2% in the last one week and over 8% since the beginning of the year.

The company said in its regulatory filing that it has secured railway electrification works for various routes of 2,251 route kilometre on competitive bidding basis among PSUs from the Ministry of Railways, Government of India. The order is worth approximately Rs 1,900 crore.

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