IRCON International Ltd’s share price soared by 13.61% on Wednesday, following the announcement of a major railway infrastructure project worth over ₹1,068 crore. The stock touched an intraday high of ₹220.45 on the NSE, before settling at ₹218.95, marking a 12.83% gain from the previous close.
Why the Stock Is Rising
The rally in IRCON shares comes after the company announced a ₹1,068.34 crore order from the East Central Railway. The project involves the construction of a new broad-gauge rail bridge with a double-line substructure and single-line superstructure between Bikramshila and Katareah stations.
This contract is expected to significantly strengthen IRCON’s order book and revenue visibility over the next few quarters.
What Analysts Are Saying
Analysts are divided in their views about the stock’s near-term movement:
- Hold & Accumulate:
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, suggests that the stock can be held or accumulated due to its strong order pipeline and consistent earnings visibility.
“IRCON has a healthy project book and solid fundamentals. Long-term investors can hold and even consider accumulating on dips,” he said. - Profit Booking Zone:
Some experts point out that the stock is approaching a resistance zone near ₹230, and short-term traders may consider booking partial profits.
About IRCON International Ltd
IRCON is a government-owned engineering and construction company under the Ministry of Railways. It specializes in transport infrastructure, including railways, highways, bridges, and more. With a strong domestic and international portfolio, IRCON remains a key player in India’s infrastructure growth.
Final Word
IRCON’s recent surge reflects market optimism about its growth trajectory and government infrastructure push. Whether you’re a long-term investor or short-term trader, IRCON is a stock to watch in June 2025.