Ircon International and RITES Stocks Surged on January 3 Due to Management Shifts

4 Jan 2024 , 10:25 AM

Ircon International and RITES shares surged over 5% each on January 3 after recent management changes were announced.

At the time of writing IRCON shares were trading at Rs 186.15 which is a 0.45% dip than the previous day’s close. 
RITES stocks were trading at Rs 515.40 which is a 0.60% dip than the previous close.

Ircon International reported that Pramod Kumar Singh and Ravi Sahay ceased to be senior management personnel due to superannuation.

Manobendra Ghoshal, RITES’ chief strategy officer, stepped down from the senior management to join MSTC Limited as chairman and managing director.

Both Ircon and RITES attained Navratna status in October, ranking 15th and 16th among CPSEs, contributing to their stock performance.

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