Shares of IRCON International Ltd are in news today after the firm said it has secured an order worth Rs 1,096 crore for the construction of a new secretariat complex in Shillong by the government of Meghalaya. The order comprises campus infrastructure on an engineering, procurement and construction basis. It is expected to be executed within three years. The government of Meghalaya awarded this order as part of a joint venture between Ircon, with a share ratio of 26%, and Badri Rai and Co., with a share ratio of 74%.
IRCON International shares ended 1.53% lower at Rs 138.25 on Monday against the previous close of Rs 140.40 on BSE. Market cap of the firm fell to Rs 13,002 crore. Total 2 lakh shares changed hands amounting to a turnover of Rs 2.79 crore on BSE.
In terms of technicals, the relative strength index (RSI) of IRCON International stood at 30.1, signaling it's trading neither in the overbought nor in the oversold zone. IRCON International stock has a one-year beta of 1.7, signaling very high volatility during the period.
IRCON International shares have fallen 36% in a year and lost 40% in six months.
Ircon International is a railway construction company, which has diversified progressively to roads, buildings, electrical substation and distribution, airport construction, commercial complexes as well as metro rail works.