RailTel soars by nearly 8%; Ircon jumps over 3% after railway firms receive orders

Ircon International and RailTel Corporation of India were trading in positive territory in morning deals on BSE on Monday (March 18, 2024) after the companies signed different deals. While Ircon received an order for a road project worth Rs 630.6 crore from National Highways and Infrastructure Development Corporation Ltd., RailTel got work orders from the Bihar Educational Project Council and the Municipal Corporation of Greater Mumbai.  

RailTel share price

The Railtel stock was off to a flying start on Monday as it soared by 7.78 per cent to the day's high of Rs 378.00 on Monday after closing at Rs 350.70 in the previous session. 

The stock of the company was trading up by 1.31 per cent, or Rs 5.65, at 356.35 at 10:13 am on Monday.

What are RailTel's orders?

RailTel has received a work order from State Project Director (SPD) Bihar Education Project Council (Bepc) for supply amounting to Rs. 1,30,60,27,856 (including tax).

Under the deal, Railtel will supply teaching learning material for Class I to V under rate contract.

RailTel has also received a work order from the Municipal Corporation of Greater Mumbai for supply, installation, testing, commissioning, operations and maintenance of HMIS for the health department of BMC amounting to Rs. 3,51,95,23,654/- (Excluding GST). 

Ircon Share Price 

Ircon jumped 3.33 per cent in morning deals on Monday to rise to the day's high of Rs 223.65 after closing at 216.45 in the session on Friday.

The stock was trading up by 0.14 per cent, or Rs 0.30, at Rs 216.75.

What is Ircon's order?  

Ircon International Limited has been awarded the LOA for the construction of twin tube uni-directional Aizawl Bypass tunnel of 2.5 km and its approaches of 2.1 km from km 10.600 to km 15.200 (Package-2) on the Sairang-Phaibawk section of NH-6 in the state of Mizoram on the EPC mode at a quoted bid price of Rs. 630.66 crore, the company said in a statement on Saturday.