Incredible rise in railway stocks, up 13%, shares running at the speed of a bullet train

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Multibagger Stock: The share price of Ircon International has increased by 13 percent in the stock market. After which the share price of the company reached the level of Rs 316 in BSE. A new work order is believed to be behind the increase in the company’s shares. In the information given by the company, it is said that it has received work worth Rs 751 crore in the joint venture.

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Both these companies worked together

The company said in a disclosure to the stock markets that it has bagged Rs 751 crore worth of work along with Paras Railtech Pvt Ltd and PCM Strescon Overseas Ventures Ltd. This work will be given on 60:25:15 basis. This work has to be completed in 42 months.

The stock hit a 52-week high

Shares of Ircon International on the BSE on Friday traded at Rs. opened at 288.50. The company’s intra-day high was Rs. There are 316. However, the stock was soft at the market close. The company’s share rose by 10.07 percent to Rs. closed at 307.75.

The company has more than 27 thousand crore rupees worth of work.

The company’s profit (tax paid) during the March quarter was Rs. 285.68 crores. In which an annual increase of 15.1 percent has been seen. In the same quarter a year ago, it was Rs. 248.18 crores. Let us tell you that till March 31, 2024, the order book of the company has received work worth Rs 27,208 crore.

Share price of Ircon International has seen an increase of over 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.

(This is not investment advice. Stock market is subject to risks. Consult experts before making any investment.)

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