251% return in 1 year: This multibagger railway PSU stock jumps over 6% in early trade - Do you own?

IRCON Share Price NSE, BSE Today: Shares of Ircon International Ltd (IRCON) surged over 6 per cent in morning trade on Monday i.e. April 29, 2024. The counter opened gap up at Rs 258, a gain of 2.87 per cent from the previous close of 250.80 on the BSE, and went on to hit the day's high of Rs 266.95 or 6.43 per cent higher than the previous close. 

ALSO READ | 1166% return in 5 years: Should you buy this multibagger railway PSU stock? Check target price

he multibagger railway PSU stock, which has a market cap of Rs 24,147 crore, has been gaining for the last six days. The scrip is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

The recent surge in share price comes after state-owned IRCON informed exchanges that it has secured a railway project worth about Rs 1,200 crore in a joint venture. IRCON, under the Ministry of Railways, is a leading turnkey construction company.

"Ircon International Ltd (IRCON) under its joint venture with Dineshchandra R Agrawal Infracon Pvt Ltd (DRA) i.E. Ircon-DRA JV has been awarded the LoA for the construction of Kottavalasa-Koraput Doubling Project from Shivalingapuram Station to Borraguhalu Station...," the Railway PSU said in an exchange filing.

IRCON Share Price NSE, BSE Today: Share Price Target

Earlier, brokerage firm Antique recommended BUY on IRCON, which has set a target of Rs 281.

The counter has a 52-week high of Rs 280.90 and a 52-week low of Rs 73.25. 

IRCON Share Price NSE, BSE Today: Share Price History

The railway PSU stock has given a positive return of 251 per cent in one year and has gained 531 per cent in two years. The counter has already gained 50 per cent so far this year. 

IRCON Share Price NSE, BSE Today: Dividend

Earlier, IRCON announced a dividend of Rs 1.8 for which the ex-date was February 16, 2024. Here's the history of dividend announced by IRCON.