Ircon International shares gains 4% amid signing MoU with Patel Engineering

New Delhi: Ircon International shares traded in the green zone on Thursday, October 17, 2024. The shares rose 3.58 percent to hit an intraday high of Rs 231.35 per share. 

The increase in the shares came after the company announced that it has inked a memorandum of understanding (MoU) with Patel Engineering to collaborate and cooperate on exploring, identifying, pursuing, and jointly executing mutually beneficial business opportunities in various infrastructure projects in India and Overseas.

In an exchange filing, Ircon International said, “This is to inform that Ircon International Limited has signed a Memorandum of Understanding (MoU) with Patel Engineering Limited on 16th October 2024 for collaboration and co-operation with each other to explore, identify, pursue and jointly execute mutually beneficial business opportunities in various infrastructure projects in India and Overseas.”

At 10:11 AM shares of Ircon International were trading 1.23 per cent higher at Rs 226.10 per share. In comparison, BSE Sensex was trading 0.38 percent lower at 81,192.20 levels.