Multibagger stock in focus on three infra order wins, check details

Shares of state-owned IRCON International Limited are in news today after the firm secured three substantial infrastructure contracts cumulatively valued at over Rs 1,869 crore. The multibagger stock  ended 1.45% lower at Rs 186.95 on BSE in the previous session. Market cap of the firm stood at Rs 17,582 crore.  The multibagger stock has gained 116% in two years and rallied 405% in three years. 

Two of these agreements pertain to the Mumbai Metro projects, awarded by the Mumbai Metropolitan Region Development Authority (MMRDA). These contracts include detailed works on Metro Line-5, Package-2 with a value of Rs 471.29 crore and Rs 2.84 million, and Metro Line-6, Package-2 valued at Rs 642.44 crore and Rs 2.79 million. Both contracts encompass comprehensive works including power systems, lifts, escalators, and long-term maintenance following their completion. The projects are expected to significantly enhance the metro infrastructure, providing improved connectivity and transit efficiency in the bustling city of Mumbai.

In addition to the Mumbai Metro agreements, IRCON has received a Letter of Award from Rail Vikas Nigam Limited (RVNL) for a railway infrastructure project in Madhya Pradesh. This project, valued at Rs 755.78 crore inclusive of GST, will be executed through a joint venture with JPWIPL, in which IRCON holds a 70% stake. Accordingly, IRCON's share amounts to Rs 529.04 crore. This latest contract reinforces IRCON's position as a leading player in infrastructure development, especially in the rail segment. The project involves constructing a new broad-gauge railway line, which is crucial for enhancing regional connectivity and economic development.

 IRCON's strategic expansion and continued acquisition of high-value contracts are expected to bolster its market presence and offer robust prospects for future growth. The company's commitment to delivering quality infrastructure solutions remains steadfast, aiming to meet the growing demands of urban and regional transportation networks.