Ircon International Ltd News Today

The contract is for executing KAVACH, an indigenous train collision avoidance system, in 778 route kilometers in the Bengaluru and Mysuru divisions.

The project is let out on a works contract on an item-rate basis and the completion period is expected to be 30 months from the commencement date.

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The claims include compensation for loss of profit and goodwill, GST penalties, releasing retention money, etc.

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In the joint venture, IRCON holds a 26% share worth ₹285 Crore. The remaining 74% stake is held by BRC.

IRCON’s revenue for Q2 dropped by 19.3% year-on-year, totaling ₹2,447.5 crore, down from ₹3,033.3 crore in the corresponding quarter last year.

Mutual funds now hold 0.31% of Ircon, down from 1.67% at the end of June.

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