India's Ircon International jumps on $32 mln order

Ircon International

20/09/2022 05:35

** Shares of construction co Ircon International  IRCN.NS 
rise as much as 5.7% to 42.75 rupees, mark sharpest intraday pct
gain since Sept. 15
    ** IRCN said on Monday it has got an order worth 2.56 bln
rupees ($32.13 mln) by Mahanadi Coalfields  urn:newsml:reuters.com:*:nFWN30O02C
    ** Order for detailed engineering and project management
consultancy services to develop rail infrastructure at Talcher
(https://bityl.co/EW9k)
    ** More than 2.4 mln shares change hands by 0424 GMT, 1.8x
30-day avg of 1.4 mln shares
    ** Two analysts covering the stock rate it "strong buy";
median PT is 54 rupees - Refinitiv data
    ** Stock down 10.4% YTD up to last close
 
 ($1 = 79.6690 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))