IRCON shares surge 7%; what analysts recommend now

Shares of IRCON International Ltd surged 6.84 per cent on Monday to close at Rs 184.09. At this price, the stock has advanced 33.41 per cent over the past six months. The rail PSU's shares turned ex-dividend on September 11. The board had declared a dividend of Re 1 per equity share with a face value of Rs 2 each, payable on October 18.

Analysts see IRCON showing strength on charts with key supports at Rs 170–172 and resistance at Rs 183. A sustained close above Rs 183 could trigger fresh buying, with potential upside targets ranging between Rs 200–225, while Rs 168–170 levels may act as support.

Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One, said, "IRCON has witnessed a spurt in price and volume on the daily charts, indicating strength. On the levels front, Rs 170 should cushion any short-term corrections, while Rs 200–205 remains the key intermediate hurdle. A breakout above this range could reignite buying momentum."

Sebi-registered analyst AR Ramachandran noted, "IRCON is bullish on daily charts with strong support at Rs 172. A daily close above Rs 183 could open the way for an upside target of Rs 200 in the near term."

Kunal Kamble, Senior Technical Research Analyst at Bonanza, added, "After consolidating between Rs 160–183, IRCON broke out in today's session. A close above Rs 183 should be treated as a buying signal. The surge in volume highlights strong buying interest. The stock can be accumulated above Rs 183 with a stop loss at Rs 168 for an upside target of Rs 213–225."

The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 61.73. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The stock has a price-to-earnings (P/E) ratio of 24.26 against a price-to-book (P/B) value of 2.87. Earnings per share (EPS) stood at 7.57 with a return on equity (RoE) of 11.81. According to Trendlyne data, IRCON has a one-year beta of 1.9, indicating high volatility.

IRCON Int'l is an engineering and construction company with specialisation in transport infrastructure. The PSU was established in 1976 and the Centre has granted 'Navratna' status to the state-owned firm. As of June 2025, the government held a 65.17 per cent stake in the company.