Ircon jumps up ober 6.5%

Ircon International is buzzing loud and clear today on the back of a good, solid order. The stock price opened 3% higher at Rs.250.80 and rose 6.5% to hit an intraday high at Rs.266/.95. Its 52-week high is at Rs.280.90.

The company announced yesterday that its JV, Dineshchandra R Agrawal Infracon, known as  Ircon-DRA JV, has received a Rs 1,198.09-order from the East Coast Railway.

This is for the construction of the Kottavalasa-Koraput Doubling Project from Shivalingapuram Station to Borraguhalu Station by East Coast Railway.

This was on EPC mode at a quoted bid price of Rs 1,198.09 crore.

The project has to be completed in 1,260 days.