Multibagger stock: There has been a rise of 13 percent in the share prices of Ircon International in the stock market. After which the price of the company’s shares reached the level of Rs 316 in BSE. A new work order is being believed to be the reason behind the rise in the company’s shares. In the information given by the company, it has been said that it has got work worth Rs 751 crore in joint ventures.
Big bang of cheap shares, 14 year old record broken, experts said buy it
Got work together with these two companies
The company has said in the information given to the stock markets that it has got work worth Rs 751 crore in collaboration with Paras Railtech Private Ltd and PCM Strescon Overseas Ventures Ltd. This work will be given on the basis of 60:25:15. This work has to be completed in 42 months.
Share reached 52 week high
On Friday, shares of Ircon International opened at the level of Rs 288.50 in BSE. The intra-day high of the company is Rs 316. However, there was a softening of the stock at the time of market closing. Shares of the company closed at Rs 307.75 with a gain of 10.07 percent.
The company has work worth more than Rs 27 thousand crores.
The company’s profit (tax paid) during the March quarter was Rs 285.68 crore. Which has seen an increase of 15.1 percent on annual basis. It was Rs 248.18 crore in the same quarter a year ago. Let us tell you, till March 31, 2024, the company’s order book has received work worth Rs 27,208 crore.
The share prices of Ircon International have seen a rise of more than 269 percent. At the same time, investors who have held the stock for 6 months have gained 65 percent so far. The government’s total stake in the company is 65 percent.
