India's state-owned Ircon International, Rail Vikas soar on report of merger

Ircon International

06/03/2026 08:53

** Shares of Ircon International IRCN.NS jump 9.3% to 146.09 rupees; Rail Vikas Nigam RAIV.NS rises 3.8% to 289.85 rupees

** NDTV Profit says India's Ministry of Railways is considering a merger of infrastructure arms IRCN and RAIV

** IRCN says in an exchange filing that it is not aware of any such discussion

** RAIV did not immediately respond to Reuters' requests for comment

** Over 52.9 million IRCN shares traded so far, stock's busiest session this year vs 30-day average volume of about 2.7 million

** About 17.1 million RAIV shares traded vs 30-day avg of 9.6 million shares

** YTD, RAIV down 19.2%, among worst performers on state-owned stocks index .NIFTYPSE that is up 5.5%, while IRCN down 18%

(Reporting by Nandan Mandayam in Bengaluru)

((Nandan.Mandayam@thomsonreuters.com; Mobile: +91 9591011727;))