Ircon International wins a ₹187 crores contract to build a Rural Industrial Park in Kerala, driving regional infrastructure and employment growth.
Ircon International Limited has come into sharp focus on Tuesday, May 6, 2025, after announcing a major contract win worth ₹187.08 crores (excluding GST). The state-owned engineering and construction giant revealed that Kerala State IT Infrastructure Limited (KSITIL) has awarded it the work order to build a dedicated rural industrial park in Thiruvananthapuram district.
Project scope and timeline
The project will be executed on an item-rate basis and is expected to be completed within 30 months. The scope of the contract includes extensive infrastructure development and civil works, aiming to boost rural industrialisation in the region. This initiative is expected to create significant opportunities for local businesses and enhance employment in the Thiruvananthapuram district.
Market impact and share performance
The announcement saw Ircon International's shares gain traction, closing 3.69% higher at ₹158.65 per share on Monday. This marks a 9.97% rise over the past month. The stock has been showing strong performance, trading above its 5-day, 20-day, 30-day, and 50-day Simple Moving Averages (SMAs), though it remains below the 10-day, 100-day, 150-day, and 200-day SMAs.
Ircon's 14-day Relative Strength Index (RSI) stood at 51.35, indicating a balanced position between oversold and overbought levels. The company's key financials include a Price-to-Earnings (P/E) ratio of 18.53, a Price-to-Book (P/B) value of 2.48, and Earnings Per Share (EPS) of 8.56. The Return on Equity (ROE) is reported at 13.36%.
Strong trading volume and market capitalisation
The counter saw significant trading activity on the Bombay Stock Exchange (BSE), with around 6.99 lakhs of shares changing hands, well above the two-week average volume of 3.73 lakhs of shares. The turnover came to ₹11.08 crores, contributing to Ircon's market capitalisation of ₹14,921.28 crores.
As of May 6, 2025, at 10:50 AM, Ircon International's stock price was ₹159.55, up by 0.54% on BSE.
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