On Friday this small-cap stock jumps up to 9% after the company received a Navratna status. The stock is currently trading, 18% away from the 52-week high and 15% & 43% above the 50-day and 200-day moving averages respectively.
Ircon International Ltd
Ircon International Ltd the company has a market capitalisation of Rs. 13,534 Cr, making it a small-cap company. On Friday the stock rose up to 9%, Currently, the company shares were trading 8.7% up at Rs. 147.75 on BSE.
According to the BSE filing, the Department of Public Enterprises has granted the Navratna Status to Ircon International Ltd. The compnay will be the 15th Navratna amongst the Central Public Sector Enterprises (CPSE).
The company shares have given 145% returns in six months and 237% returns in one year, therefore making an investment of 1 lakh six months ago now would be worth Rs. 2.45 lakhs and making the same amount of investment one year ago now would be worth Rs. 3.37 lakhs.
The company’s total revenue grew by 36.7% from Rs. 2,068.4 Cr in Q1 FY23 to Rs. 2,828.2 Cr in Q1 FY24 and the company’s net profit increased by 29.6% from Rs. 144.5 Cr in Q1 FY23 to Rs. 187.37 Cr in Q1 FY24.
As of September 2023, Promoters hold 73.18%, Public hold 22.19%, FIIs hold 4.01% and DIIs hold 0.62% stake in the company.
IRCON International Limited is a company that specializes in infrastructure construction. The company constructs highways, bridges, trains, airports, runways, and residential, industrial, and commercial structures. It also offers railway electrification, locomotive and passenger vehicle leasing, and signal and telecommunications infrastructure.
Written by Sheshadri N
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