After winning an arbitration award, IRCON shares reached a one-year high

19 Dec 2023 , 02:21 PM

IRCON International Ltd.’s shares increased 2.14%

 to Rs. 181.65, their one-year high. As the session went on, the stock gave up its gains and was last seen trading at Rs 177.30, down 0.31%. The multibagger stock has gained 110.65% over the previous six months and 197.73% year to date (YTD) at this pricing.

In an arbitration case involving Eskom Holdings SOC, the International Chamber of Commerce (ICC) rendered a decision in favour of IRCON. In response to IRCON’s claims of Rs 115.98 crore, the ICC awarded IRCON an award of Rs 103.62 crore. The award has been accepted by IRCON’s authorised authority.

In comparison to the price-to-book (P/B) ratio of 3.06, the company’s stock has a price-to-equity (P/E) ratio of 19.28.

According to Trendlyne data, the stock has an analyst target price of Rs 148, indicating a potential decline of 16 per cent over the course of a year. With a one-year beta of 0.7, the counter exhibits little volatility.

A recent offer-for-sale (OFS) to sell up to 8% of IRCON has been made by the government.

Transport infrastructure is the area of expertise for engineering and construction firm IRCON International. 1976 saw the establishment of the PSU. The state-owned company has been accorded ‘Navratna’ status by the Centre.

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