Mumbai, October 27 (Udaipur Kiran): Shares of Ircon International Ltd edged higher on Monday after the company announced that its joint venture with Finolex J-Power Systems has secured a turnkey works contract worth ₹168.40 crore (excluding GST) from the Maharashtra State Electricity Transmission Company Limited (MSETCL).
The stock was trading at ₹170.65, up ₹0.90 or 0.53%, from its previous close of ₹169.75 on the BSE. The scrip opened at ₹171.35 and touched an intraday high of ₹172.40 and low of ₹170.00, with around 88,696 shares traded during the session.
The BSE Group ‘A’ stock with a face value of ₹2 has a 52-week high of ₹237.60 (December 11, 2024) and a 52-week low of ₹134.30 (March 3, 2025). The company’s market capitalisation stands at ₹16,049.90 crore. The promoters hold 65.17%, while institutions and non-institutions hold 6.53% and 28.29%, respectively.
The awarded project involves the construction of a 220 kV double circuit (D/C) line from the 400/220 kV Koradi-II Substation to the Mankapur Substation (Overhead + Underground) under the Nagpur Zone, to be executed on a turnkey basis.
Under the joint venture agreement, Ircon International holds a 51% stake, while Finolex J-Power Systems holds the remaining 49% stake in the project.
Ircon International Ltd is a leading Indian engineering and construction company engaged in executing major infrastructure projects, including railways, highways, power, and transmission lines across India and abroad.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.
