Stocks

Ircon spurts 9% on bonus, dividend plan

Our Bureau Chennai | Updated on February 09, 2021

Shares of Ircon International zoomed 9 per cent to ₹94 on Tuesday after the PSU railway firm announced that its board of directors is meeting on February 15 to consider bonus issue and interim dividend. The company has fixed February 24 as the record date, subject to approval by the board on February 15.

The stock currently trades at ₹93.75, up 8.70 per cent, over the previous day's close of ₹86.25, on the BSE.

Earlier, Ircon International had said that its board is meeting on February 13 to consider and approve the standalone and consolidated unaudited financial results of the company for the quarter and nine-months ended December 31, 2020.

It had posted a profit of ₹76.21 crore on revenues of ₹965.57 crore for the September quarter.

Shares of Ircon International made a debut on September 28, 2018. The company hit the capital market in September 2018 at an issue price ₹475 a share. However, in April 2020, it had split the shares face value from ₹10 to ₹2.

Promoter's (Union Government) holding stands at 89.18 per cent, while among the public, 1.13 small investors hold 6.89 per cent. Mutual funds and FPIs hold just 0.30 per cent and 0.34 per cent, respectively.

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Published on February 09, 2021
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