IRCON International’s share price gained more than 2% on Friday, September 24, after the rail infrastructure company today won a bid to set up a 500 MW solar power plant through ‘a reverse electronic auction. IRCON opened on BSE at Rs 44.90, hitting an intra-day high of Rs 46.60 and an intra-day low of Rs 44.60, during the trading session so far.
IRCON won the bid for the solar power plant through a reverse electronic auction with Viability Gap or VGF funding of RS.224.70 crore under the Central Public Enterprise Program II (CPSU ) launched by the Indian Renewable Energy Development Agency (IREDA).
The approximate cost of the project is Rs 2,400 crore, according to a regulatory filing from the company, today’s stock exchange. IRCON is owned by the Ministry of Railways and is a transport infrastructure company. The company specializes in railways, including station buildings, new rail lines, bridges, signaling, tunneling, railroad electrification, railroad telecommunication systems. railways and subways, among others.
On the NSE, IRCON opened at Rs 45, hitting an intra-day high of Rs 46.60 and an intra-day low of Rs 44.60, during the session so far. It was last trading 2.02% at Rs 45.45 on the NSE.
IRCON shares were last trading 1.91% at Rs 45.40 on BSE.
Meanwhile, stock indices hit new all-time highs early in today’s session with the benchmark BSE – Sensex – breaking through the 60,000 mark for the first time and the Nifty breaking through its crucial psychological level of 17. 900 thanks to the earnings of the ICICI bank. , Infosys, among others.