Ircon International Ltd's JV receives LOA for project from Rail Vikas Nigam Ltd

Ircon International Limited (IRCON) through its Joint Venture with M/s SSNR Projects Private Limited {i.e. IRCON- 70% and SSNR-30% (IRCON-SSNR JV)} has been awarded the Letter of Award (LOA) for the project floated by Rail Vikas Nigam Limited.

The order is for Construction of Tunnel T1 from Chainage Km 33+160 To Km 34+400 And Tunnel 2 From Chainage Km 57+400 To Km 66+040 With Ballast Less Track And Works Related to Formation On Approaches of Such Tunnels In Connection With Construction of Electrified New BG Railway Line Between Mangliyagaon (Indore) to Budni Stations (198 Kms) of Ratlam Division And Bhopal Division Of Western Railway And West Central Railway Respectively In Madhya Pradesh State, India.

The order value is Rs.872,69,34,516.97 (IRCON Share - Rs. 610,88,54,161.88) (Indian Rupees Eight Hundred Seventy Two Crores Sixty Nine Lakh Thirty Four Thousand Five Hundred Sixteen and Paise Ninety Seven Only) - incl. GST.

IRCON Share (Indian Rupees Six Hundred Ten Crores Eighty Eight Lakh Fifty Four Thousand One Hundred and Sixty One and Paise Eighty Eight only) - incl. GST (IRCON secured this project in JV with IRCON - SSNR JV (IRCON share ratio of 70%, and SSNR share ratio of 30%)

Shares of Ircon International Limited was last trading in BSE at Rs. 156.30 as compared to the previous close of Rs. 159.75. The total number of shares traded during the day was 318291 in over 3173 trades.

The stock hit an intraday high of Rs. 163.70 and intraday low of 155.30. The net turnover during the day was Rs. 50482503.00.

Source : Equity Bulls

Keywords

IrconInternational INE962Y01021 SSNRProjects JV LOA OrderWin RailVikasNigam