Ircon International shares rally 8% after Rs 51.6 crore order win from North Western Railway
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Shares of Ircon International climbed as much as 8.1% on Friday to Rs 191.9 on the BSE after the company announced a work order worth Rs 51.61 crore from North Western Railway for installing a Remote Diagnostic and Predictive Maintenance System across multiple divisions in Rajasthan. In a filing dated May 15, Ircon International disclosed the receipt of a Letter of Acceptance from North Western Railway for the provision of a Remote Diagnostic & Predictive Maintenance System. The project covers the RE-MD section of Jaipur Division, MD-PNU section of Ajmer Division, RE-BTI section of Bikaner Division, and MTD-LUNI section of Jodhpur Division. The total value of the order is Rs 51.61 crore and the contract is scheduled to be completed within 24 months. The company clarified in its statement that the order is a domestic work contract and does not fall under related party transactions. Stock performance and technicals Ircon shares have gai...