Spotlight on big ticket orders for India's Ircon Int'l - Antique

Ircon International

25/09/2023 07:25

** Shares of Ircon International  IRCN.NS  up 4.17% after
Antique Stock Broking initiates coverage on construction co with
"buy" and PT of 176 rupees
    ** Brokerage's PT implies 24.4% upside to stock's last close
of 141.45 rupees
    ** Railway expenditure to drive co's order backlog, IRCN has
"first mover advantage" in high-speed rail - Antique
    ** Co's strategy of considering high-value projects will
improve scope of gross profit, aid economies of scale - note
    ** However, Antique flags competition, infra delays, poor
capital allocation as risks
    ** Stock currently up 3%, taking YTD gains to 144%

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))