Latest news with #Tato-IHydroElectricProject
Hans India
04-06-2025
- Business
- Hans India
Ircon Stock Soars After Rs 898 Crore Project Boost
Shares of Ircon International Ltd went up by almost 14% on Wednesday. This happened after the company won several new projects and because people are feeling positive about the government spending more on infrastructure. By 2:47 pm, Ircon's stock was trading at Rs 220.97, which is Rs 27.03 higher than the day before. It reached a high of Rs 221.03 during the day. The stock went up even though the overall market was not doing very well. In May, Ircon got new projects worth over Rs 898 crore. These include work in railways, power, and industrial development. Some important projects are: A project worth Rs 187 crore to build a rural industrial park in Thiruvananthapuram, Kerala. A Rs 458.14 crore project for civil construction work at the Tato-I Hydro Electric Project in Arunachal Pradesh. A Rs 253.6 crore contract to install the KAVACH train safety system on 778 km of railway lines in the Bengaluru and Mysuru areas. Other railway-related company stocks also went up: RITES rose by 6.5% Texmaco Rail & Engineering went up 8% Titagarh Rail Systems increased by 4% HBL Power Systems gained over 3% Even though Ircon's earnings in the last quarter were not strong—its profit fell by 3.8% to Rs 246.8 crore, and its operating profit (EBITDA) dropped by 56.3%—investors are hopeful because of the new contracts and future spending on infrastructure. Analysts are still careful and have set an average target price of Rs 158, which is lower than the current price. But the stock's rise in the last three months, especially today's jump, shows that people trust Ircon's ability to handle big projects and grow in the future.
Time of India
04-06-2025
- Business
- Time of India
Ircon shares surge nearly 14% on multiple orders & capex boost
Representative image S hares of Ircon International Ltd soared nearly 14 percent on Wednesday following a flurry of new project wins and optimism around infrastructure-linked capital expenditure. At 2:47 pm, Ircon's stock was trading at Rs 220.97, up Rs 27.03 or 13.94 percent for the day. The intraday high touched Rs 221.03, marking a strong recovery amid broader market volatility. The rally comes after the company secured contracts worth over Rs 898 crore in May across railway, power, and industrial infrastructure. Among other railway-related stocks, RITES climbed 6.5 percent, Texmaco Rail & Engineering rose 8 percent, Titagarh Rail Systems gained 4 percent, while HBL Power Systems advanced more than 3 percent. Among the major deals, Ircon won an Rs 187 crore project from Kerala State IT Infrastructure Ltd to build a rural industrial park in Thiruvananthapuram. It also bagged an Rs 458.14 crore civil works contract from North Eastern Electric Power Corporation for the Tato-I Hydro Electric Project in Arunachal Pradesh, according to an ET report. In addition, the South Western Railway awarded Ircon an Rs 253.6 crore contract to implement the indigenous KAVACH train collision avoidance system across 778 route kilometres in Bengaluru and Mysuru divisions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Madukhali: Scholarships You Can Apply For (Start Now) Google Search Search Now Undo These wins, aligned with the government's infrastructure push, have improved investor sentiment despite recent earnings pressure. While Ircon reported a 3.8 percent year-on-year decline in Q4FY24 net profit to Rs 246.8 crore, and a sharp 56.3 percent fall in EBITDA, the new contracts and expected capex upcycle appear to have overshadowed near-term financial softness. Analysts have assigned a cautious outlook with an average target price of Rs 158, suggesting downside from current levels. However, the stock's rise over the past three months, bolstered by today's surge, indicates growing market confidence in its project execution capabilities and future growth prospects. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
19-05-2025
- Business
- Mint
RailTel, IRFC to Rites: Not just defence — railway stocks are on a roll too, surge up to 30% in May
Railway stocks in focus: Defence stocks have become a hot segment for Dalal Street investors ever since tensions between India and Pakistan escalated, bringing these domestic-focused companies back into the spotlight and triggering strong rallies similar to those seen during the first half of 2024. Railway stocks also joined the rally, with most stocks in the segment gaining sharply. Shares of Rail Vikas Nigam, RITES, BEML, Ircon International, RailTel Corporation of India, IRCTC, and Indian Railway Finance Corporation delivered returns of up to 30% in May, as investors responded positively to steady order wins and healthy performance in the March quarter. Railway stocks had previously experienced a sustained bull run from May 2023 to July 2024, which drove their valuations to unsustainable levels. This, combined with a slowdown in order inflows, led investors to retreat from the segment, resulting in sharp corrections from record highs. However, the recent pickup in order flow has renewed investor interest, attracting them back into the railway segment alongside the continuing momentum in defence stocks. Shares of RailTel Corporation of India jumped from ₹ 312 to ₹ 384 in May, marking a 30% gain so far — the stock's biggest monthly rise since January 2024. The infrastructure company received a work order worth ₹ 227.5 million from North Central Railway in early May. For the March quarter, the company reported a net profit of ₹ 113.4 crore, up from ₹ 77.53 crore a year ago, reflecting strong operational execution and improving business momentum. RailTel delivered FY25 profit growth of 27.6%, in line with its guidance of 25–30%. The Navratna company has reiterated its revenue and profit growth guidance of 25–30% for FY26, supported by robust order inflows worth ₹ 31.5 billion in FY25. RITES, a leading transport infrastructure consultancy and engineering firm, has also seen its share price surge 27% in May. The company secured over 150 orders (including extensions) worth more than ₹ 1,418 crore in Q4FY25, taking its order book to a record high of ₹ 8,877 crore as of March 31, 2025. In Q4, its net profit rose 6.2% YoY to ₹ 141 crore. Ircon International shares have rallied 23% so far in May, driven by consistent order wins. On May 6, the company received an order worth ₹ 1.87 billion from Kerala State IT Infrastructure. Earlier, it secured a ₹ 458.14 crore contract from North Eastern Electric Power Corporation for civil works in the Tato-I Hydro Electric Project in Arunachal Pradesh. Stock Name Returns in May so far RailTel Corporation 30% Rites 27% Ircon International 23% RVNL 17% BEML 16% IRFC 12% IRCTC 8% Source: Trendlyne In late April, Northeast Frontier Railway increased Ircon's awarded contract size by ₹ 59.44 crore. Rail Vikas Nigam (RVNL) shares have delivered a 17% return in May, fueled by steady order wins from Indian Railways. On Friday, the company bagged an order worth ₹ 116 crore from Central Railway. In mid-April, it had emerged as the lowest bidder for a ₹ 143 crore contract from Southern Railway. Indian Railway Finance Corporation (IRFC) has also seen its share price soar 12% in May amid multiple positive developments. On May 15, it received government approval to raise up to ₹ 100 billion via deep-discount bonds — a corporate debt instrument gaining popularity among state-owned firms. In late April, IRFC emerged as the lowest bidder to extend a ₹ 50 billion loan to NTPC. For the March quarter, it reported a net profit of ₹ 1,682 crore, compared to ₹ 6,723 crore in the year-ago period. Other railway-related PSU stocks, such as BEML and IRCTC, also gained 16% and 8%, respectively, in May. Disclaimer: The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.
Time of India
06-05-2025
- Business
- Time of India
Ircon International shares in focus after Rs 187-crore contract for rural industrial park in Kerala
Synopsis Ircon International has secured a Rs 187.08 crore work order from KSITIL for constructing a rural industrial park in Thiruvananthapuram, slated for completion in 30 months. This follows a Rs 458.14 crore contract from NEEPCO for civil works on the Tato-I Hydro Electric Project in Arunachal Pradesh, to be executed over 45 months.
News18
05-05-2025
- Business
- News18
Stocks To Watch: SBI, Gensol, Adani Ent, TCS, Swiggy, DMart, Coforge, And Others
Last Updated: Stocks to watch: Shares of firms like SBI, Gensol, Adani Ent, TCS, Swiggy, DMart, Coforge, and others will be in focus on Monday's trade Stocks to Watch on May 5: Domestic equity markets remained volatile on Friday, with sharp swings in the first half before settling flat. As trading resumes on Monday, several stocks will be in focus due to major earnings announcements and corporate updates. Key Q4FY25 Earnings Scheduled Today A number of companies will release their fourth-quarter financial results, including Mahindra & Mahindra, Coforge, Indian Hotels Company, Bombay Dyeing & Manufacturing, CCL Products, Computer Age Management Services (CAMS), Capri Global Capital, Ethos, Cigniti Technologies, Jammu & Kashmir Bank, Unicommerce Esolutions, Nureca, and Zee Media Corporation. State Bank of India (SBI) India's largest lender, SBI, reported a 10% year-on-year (YoY) decline in net profit, which stood at Rs 18,643 crore for Q4FY25, compared to a record Rs 20,698 crore in the previous year. The bank's net interest income (NII) grew by 2.7% YoY to Rs 42,775 crore, reflecting margin pressures. Adani Enterprises Adani Enterprises announced a capital expenditure plan of Rs 36,000 crore for FY26, marking a reduction from earlier projections. This follows a trend of downward revisions over the past two years. The company initially planned to spend Rs 3.92 lakh crore over five years starting FY25, with an average annual outlay of Rs 80,000 crore. Tata Consultancy Services (TCS) TCS and IBM are collaborating to advance India's quantum computing ecosystem. Under the Andhra Pradesh government's Quantum Valley Tech Park project in Amaravati, IBM's Quantum System Two will be installed, featuring a 156-qubit Heron quantum processor, making it the largest quantum computer in India. Swiggy Food delivery giant Swiggy announced that Bolt, its 15-minute food delivery service, is now operational in over 500 cities. Launched in October 2024, Bolt now accounts for 10% of all food orders on the platform, up from 9% in the previous quarter. Kotak Mahindra Bank Kotak Mahindra Bank reported a 14% YoY decline in net profit to Rs 3,551.7 crore for Q4FY25, while NII grew by 4.5% to Rs 7,283.6 crore. Total income rose 6.8% YoY, but higher operating expenses led to a 14.4% YoY increase in total expenditure. The bank's net interest margin (NIM) stood at 4.96% for FY25. Avenue Supermarts (DMart) Avenue Supermarts, the parent company of DMart, reported a 2% decline in consolidated net profit at Rs 551 crore. Comparable store sales for two-year-old and older stores grew 8.1% YoY in Q4FY25, lower than the 10.3% growth recorded in Q4FY24. IRCON International Infrastructure PSU IRCON International secured a Rs 458.14 crore contract from the North Eastern Electric Power Corporation (NEEPCO). The contract, part of the Tato-I Hydro Electric Project in Arunachal Pradesh, covers civil works under Package I on an item-rate basis. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. First Published: May 05, 2025, 08:14 IST
