IRCON

** Steep rise in Indian railway stocks in past few weeks contrasts government's flat FY26 capex projection and modest medium-term outlook, says Kotak Institutional Equities

** Attributes stock boost to euphoria in mid- and small-caps and rub-off effect from other sectors like defence, manufacturing and electrification

** Jupiter Wagons JUWL.NS, RITES RITS.NS and RailTel Corporation of India RAIT.NS down 1.9%, 2.9% and 3.8%, respectively, today after brokerage commentary

** However, JUWL, RITS and RAIT still up 15%, 37% and 56%, respectively, since May

** Other stocks like IRCON International IRCN.NS and Titagarh Rail Systems TITG.NS up ~43% and 25% since May

** Kotak says it's hard to reconcile valuations of railway stocks with their financials and growth prospects

** Says most railway cos' profits have either fallen or remained unchanged in 2025 from last yr, while stocks have surged

** Adds, it does not see scope for meaningful pickup in railway capex in medium term

(Reporting by Vivek Kumar M)

(([email protected];))

** IRCON International IRCN.NS shares fall 2.3% to 186.6 rupees

** Engineering and construction company co posts 14% Y/Y decline in Q4 consol net profit to 2.11 billion rupees ($24.63 mln), rev from ops falls 9.9% Y/Y

** Stock rated "sell" on avg; median PT is 144 rupees, per data compiled by LSEG

** Stock down 15% YTD

($1 = 85.6825 Indian rupees)

(Reporting by Rudra Pratap Singh in Bengaluru)

(([email protected]))

BENGALURU, May 21 (Reuters) - Diary of India economic, corporate events on May 21

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled'

(Compiled by Bengaluru Newsroom; Editing by Shailesh Kuber)

(([email protected]))

May 19 (Reuters) - Rail Vikas Nigam Ltd RAIV.NS:

• EMERGES AS LOWEST BIDDER FOR ORDER FROM IRCON INTERNATIONAL

Source text: ID:nBSE9njg26

Further company coverage: RAIV.NS

(([email protected];))

** Shares of Ircon International IRCN.NS rise 3% to 157.8 rupees

** Engineering and construction co wins contract worth 4.58 billion rupees ($54.44 million) for construction of civil works including shafts, pipes from North Eastern Electric Power Corp

** Stock down 26% YTD

($1 = 84.1330 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)

(([email protected]))

April 24 (Reuters) - Ircon International Ltd IRCN.NS:

• VALUE FOR ORDER FROM NORTHEAST FRONTIER RAILWAY INCREASED TO 2.04 BILLION RUPEES

Source text: ID:nBSE5C9gY3

Further company coverage: IRCN.NS

(([email protected];;))

** Engineering and construction firm Ircon International IRCN.NS up nearly 5% at 156.75 rupees

** Co bags order worth 1.28 bln rupees (~$15 mln) from North Western Railways

** With session's gains, IRCN narrow 12-month decline to ~28%

(Reporting by Ananta Agarwal in Bengaluru)

(([email protected]))

** Ircon International IRCN.NS rises as much as 8.9% to 150.4 rupees

** Meghalaya government gives contract to JV, comprising co and Badri Rai and Company, to construct new secretariat complex

** Total order size is 10.96 bln rupees ($126.4 mln); co's share is 2.85 bln rupees

** Stock set to snap 5 days of losses

** More than 13.3 mln shares traded, ~2x the 30-day moving avg

** IRCN last up 7.5%, cutting YTD losses to 35.7%

($1 = 86.7290 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

(([email protected];))

March 17 (Reuters) - Ircon International Ltd IRCN.NS:

• IRCON INTERNATIONAL LTD - AWARDED EPC CONTRACT BY GOVERNMENT OF MEGHALAYA

• IRCON INTERNATIONAL LTD - CONTRACT VALUE 10.96 BILLION RUPEES, IRCON SHARE 2.85 BILLION RUPEES

Source text: ID:nBSE2CwkjG

Further company coverage: IRCN.NS

(([email protected];))

** Ircon International IRCN.NS slides as much as 9.2% to 163.33 rupees, lowest since December 2023

** Engineering and construction co's Q3 consol net profit plummets ~65% y/y

** Q3 EBITDA margins falls to 5.3% vs year-ago 10.1%

** Third-quarter order book declines over 25% y/y

** Stock among top four pct losers on Nifty 500 index .NIFTY500, which is down 1.1%

** IRCN last down ~8%, extends YTD losses to ~23%

($1 = 86.5000 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

Feb 11 (Reuters) - Ircon International Ltd IRCN.NS:

• DIVIDEND 1.65 RUPEES PER SHARE

• DEC-QUARTER CONSOL NET PROFIT 865.9 MILLION RUPEES

• DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 26.13 BILLION RUPEES

Source text: [ID:]

Further company coverage: IRCN.NS

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Feb 7 (Reuters) - Ircon International Ltd IRCN.NS:

• IRCON INTERNATIONAL LTD - AWARDED EPC CONTRACT IN JV WITH AMRIL

• IRCON INTERNATIONAL LTD - TOTAL CONTRACT VALUED AT 5.32 BILLION RUPEES, IRCON'S SHARE 1.38 BILLION RUPEES

Source text: ID:nBSE342wmd

Further company coverage: IRCN.NS

(([email protected];))

Updates

** Shares of Indian railway infra-linked cos Rail Vikas RAIV.NS, Ircon International IRCN.NS, Titagarh Rail TITG.NS, Indian Railway Finance Copr INID.NS, Texmaco Rail TEXA.NS, RailTel RAIT.NS drop 4%-7% on the day

** Road infra-linked cos Larsen & Toubro LART.NS, IRB Infra IRBI.NS, G R Infraprojects GINF.NS, HG Infra HGIN.NS, KEC International KECL.NS also lose 4%-7%

** FY26 capex set at 11.2 trln rupees ($128.58 bln), up 10% Y/Y

** Infra-related capex growth for FY2026 is underwhelming, says J.P.Morgan

** Adds, railways and road capex growth remains flat for the fiscal

** Says, almost the entire growth in FY26 capex driven by investment in items unrelated to infra, including investment in international financial institutions, other economic services

** Infra-linked stocks have been biggest losers in benchmark Nifty 50 and sectoral indexes on Saturday and Monday

** Nifty infrastructure index .NIFTYINFR down 3.2% in two sessions vs 0.8% drop in Nifty 50

($1 = 87.1075 Indian rupees)

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

** Shares of Ircon International Ltd IRCN.NS rise as much as 9.4% to 221.77 rupees

** Engineering co secures contract in a JV with AMR India for pavements and drainage system road work in Manipur

** Total contract value of 6.31 bln rupees ($72.8 mln), and co's share of 1.64 bln rupees

** Stock on track to rise for a third straight day

** More than 17.1 mln shares traded as of 12:51 p.m. IST, 2.2x their 30-day moving avg

** IRCN last up 7.1%; gained 25.4% in 2024

($1 = 86.6225 Indian rupees)

(Reporting by Meenakshi Maidas in Bengaluru)

(([email protected];))

Jan 30 (Reuters) - Ircon International Ltd IRCN.NS:

• AWARDED EPC CONTRACT IN JV WITH AMRIL

• TOTAL CONTRACT VALUE 6.31 BILLION RUPEES

Source text: ID:nBSE4MHG5l

Further company coverage: IRCN.NS

(([email protected];;))

Jan 1 (Reuters) - Ircon International Ltd IRCN.NS:

• IRCON INTERNATIONAL LTD - NAMES ALIN ROY CHOUDHURY AS CFO

Source text: ID:nBSE1SjfFV

Further company coverage: IRCN.NS

(([email protected];))

Dec 31 (Reuters) - Ircon International Ltd IRCN.NS:

• IRCON INTERNATIONAL - B. MUGUNTHAN CEASES TO BE IRCON CFO

Source text: ID:nBSE1Phf5v

Further company coverage: IRCN.NS

(([email protected];;))

Dec 18 (Reuters) - Ircon International Ltd IRCN.NS:

• APPOINTMENT OF CHIEF FINANCIAL OFFICER (KMP) OF IRCON

• NAMES ALIN ROY CHOUDHURY AS CFO

Source text: ID:nBSEB7JYG

Further company coverage: IRCN.NS

(([email protected];))

** Shares of Ircon International IRCN.NS fall 4.8% to 204.9 rupees; set to end week in the red

** Construction and engineering co's consol net profit falls 18% y/y to 2.06 bln rupees ($24.4 mln); rev from ops down 19%

** Co hurt by fewer orders in the reported qtr

** Co says expects urban transformation initiatives like Metro Rail and NaMo Bharat to boost growth

** IRCN down ~7% so far this week

($1 = 84.3630 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

(([email protected] ; ( +91 8078332441))

** Shares of Ircon International IRCN.NS and Patel Engeineering PENG.NS rise 0.9% and 4.4% respectively

** Ircon on Wednesday said it signed an MoU with Patel Engineering to explore infrastructure projects in India and overseas

** The companies did not disclose specifics of the MoU, including financial details

** More than 6.8 mln IRCN shares change hands, while around 6.7 mln PENG shares traded

** IRCN is up 31.2% YTD, while PENG is down 5.6%

(Reporting by Ashish Chandra in Bengaluru)

(([email protected] (+91 7982114624))

Oct 16 (Reuters) - Ircon International Ltd IRCN.NS:

• IRCON INTERNATIONAL LTD - SIGNED MEMORANDUM OF UNDERSTANDING WITH PATEL ENGINEERING

• IRCON INTERNATIONAL LTD - MOU TO EXPLORE VARIOUS INFRASTRUCTURE PROJECTS IN INDIA,OVERSEAS

Source text for Eikon: ID:nBSEGPQFg

Further company coverage: IRCN.NS

(([email protected];;))

* RITES Ltd RITS.NS shares trim losses after order win; shares down 0.4% after dropping 1.9% earlier

* Co received order worth 1 bln rupees ($12 mln) from Adani Ports APSE.NS to provide railway operation and maintenance services at Dhamra Port Co

* Stock up ~45% YTD vs ~33% gains in peer Ircon International IRCN.NS

($1 = 83.6580 Indian rupees)

(Reporting by Vijay Malkar)

(([email protected];))

Aug 8 (Reuters) - Ircon International Ltd IRCN.NS:

• JUNE-QUARTER CONSOL NET PROFIT 2.24 BILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 22.87 BILLION RUPEES

Source text for Eikon: [ID:]

Further company coverage: IRCN.NS

(([email protected];))

July 24 (Reuters) - Ircon International Ltd IRCN.NS:

• IRCON INTERNATIONAL - DISPUTE MATTER BETWEEN CO, HCC CLOSED IN ARBITRATION

Source text for Eikon: ID:nNSE6xlfgf

Further company coverage: IRCN.NS

(([email protected];))

July 23 (Reuters) - Ircon International Ltd IRCN.NS:

• DISPUTE MATTER BETWEEN CO, HINDUSTAN CONSTRUCTION CO CLOSED IN ARBITRATION

Further company coverage: IRCN.NS

(([email protected];))

July 18 (Reuters) - Ircon International Ltd IRCN.NS:

• HARI MOHAN GUPTA DESIGNATED AS CEO

Source text for Eikon: ID:nBSE8rK5S9

Further company coverage: IRCN.NS

(([email protected];;))

** Shares of India's Ircon International IRCN.NS up ~5% after rising as much as 5.5% earlier in the day

** Co said it got order worth 7.51 bln rupees (~$90 mln) from Rail Vikas Nigam RAIV.NS

** IRCN eyeing sixth straight session of gains, if trends hold

** Trading vols 2x 30-day avg

** YTD stock has jumped 70%

($1 = 83.4870 Indian rupees)

(Reporting by Hritam Mukherjee in Bengaluru)

(([email protected];))

July 4 (Reuters) - Ircon International Ltd IRCN.NS:

• IRCON INTERNATIONAL LTD - GOT LETTER OF AWARD FOR PROJECT FLOATED BY RAIL VIKAS NIGAM

• IRCON INTERNATIONAL LTD - RAIL VIKAS NIGAM ORDER WORTH 7.51 BILLION RUPEES

Source text for Eikon: ID:nBSE8PCmqY

Further company coverage: IRCN.NS

(([email protected];))

July 1 (Reuters) - Ircon International Ltd IRCN.NS:

• IRCON INTERNATIONAL - HARI MOHAN GUPTA ASSUMED CHARGE OF POST OF CMD OF CO

Source text for Eikon: ID:nNSE36xDMY

Further company coverage: IRCN.NS

(([email protected];))

** Shares of Ircon International IRCN.NS down 2.9% to 281.5 rupees

** Stock on track to snap five straight sessions of gains

** The engineering and construction co's Q4 consol net profit fell 3.5% y/y to 2.45 bln rupees ($29.4 mln), rev from ops fell 1%

** Over 27 mln shares traded, 2.1x the 30-day avg

** Including session's losses, stock up ~64% YTD

($1 = 83.2600 Indian rupees)

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))