A railway PSU stock, IRCON International, jumped over 4 per cent in morning trade on the BSE on Monday, July 21, in an otherwise weak market. IRCON share price opened at ₹192.10 against its previous close of ₹186.95 and jumped 4.30 per cent to an intraday high of ₹195. Around 10 AM, the PSU stock traded 2.46 per cent higher at ₹191.55.
Why is IRCON share price rising?
IRCON share price are rising after the railway PSU company received orders from IRCON and Mumbai Metropolitan Region Development Authority.
After market hours on Friday, July 18, IRCON announced that it had received a letter of award for a project floated by RVNL. The company had bid for the project in a joint venture with JPWIPL, holding a 70 per cent stake, while JPWIPL held the remaining 30 per cent.
(This is a developing story. Please check back for fresh updates.)
