IRCON International shares zoomed 14% today; here's what analysts have to say

Shares of IRCON International Ltd surged 13.61 per cent in Wednesday's trade to hit a high of Rs 220.45. Last checked, the stock was up 12.83 per cent at Rs 218.95. At this price, it has rallied 38.01 per cent in a month.

The railway PSU recently secured an order worth Rs 1,068.34 crore from East Central Railway for constructing a new broad-gauge rail bridge. The project includes a double-line substructure and a single-line superstructure, connecting Bikramshila and Katareah stations as part of the new railway line project.

One analyst suggested that investors with a medium- to long-term outlook could consider holding and accumulating the stock. That said, Rs 230 is likely to act as a near-term resistance. Another expert, however, recommended booking profits at current levels.

Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, said the company has a strong order book along with earnings visibility. "Investors can hold the stock and also look to accumulate from a medium- to long-term perspective," he advised.

Ravi Singh, Senior Vice-President of Retail Research at Religare Broking, said the stock could rise to Rs 230 in the near term, which would act as an immediate resistance. He advised placing a stop loss at Rs 210.

Sebi-registered independent research analyst AR Ramachandran mentioned that IRCON is bullish but overbought on daily charts with next resistance at Rs 230. "Investors should be booking profits as a daily close below support of Rs 200 could lead to a downward target of Rs 180 in the near term," he added.

The scrip traded higher than the 5-day, 10-, 20-, 30-, 50-, 100-, 150-day and 200-day simple moving averages (SMAs). Its 14-day relative strength index (RSI) came at 77.66. A level below 30 is defined as oversold while a value above 70 is considered overbought.

The stock has a price-to-earnings (P/E) ratio of 25.65 against a price-to-book (P/B) value of 3.43. Earnings per share (EPS) stood at 8.56 with a return on equity (RoE) of 13.36. According to Trendlyne data, IRCON has a one-year beta of 1.8, indicating high volatility.

It witnessed heavy trading volume on BSE today as around 54.93 lakh were last seen changing hands. The figure was higher than the two-week average volume of 4.71 lakh shares. Turnover on the counter came at Rs 116.25 crore, commanding a market capitalisation (m-cap) of Rs 20,677.24 crore.

IRCON Int'l is an engineering and construction company with specialisation in transport infrastructure. The PSU was established in 1976 and the Centre has granted 'Navratna' status to the state-owned firm. As of March 2025, the government held a 65.17 per cent stake in the company.