IRCON International said the company’s board of directors approved and recommended the issuance of one bonus share for each share held as on the date of record date.
The record date will be announced in due course, the company said in an exchange filing.
About Company
Ircon International Limited or Indian Railway Construction Limited, is an engineering and construction organisation, specialized in transport infrastructure.
The PSU was established in 1976, by the Government of India under the Indian Companies Act 1956.
IRCON was registered as the Indian Railway Construction International Ltd., a wholly (100%) owned entity of the Ministry of Railways.
Its primary charter was the construction of railway projects in India and abroad.
Bonus from reserves
The company said that the bonus equity shares will be issued out of free out of reserves of the company available as on 31 March, 2020.
Company’s Financial
Mini-ratna public sector enterprise Ircon International had reported a 35% jump in its profit after tax to ₹103 crore in the December quarter.
As of December 31, 2020, the company’s total order book stood at ₹32,814 crore – Rs30,709 crore for railway projects and ₹2,105 crore for highway projects.
Impact on Stock Market
IRCON International said in an announcement made after market hours yesterday, 5 April 2021. Shares of IRCON International fell 0.72% to settle at Rs 89.20 yesterday.
The stock hit a 52-week high of Rs 108.40 on 11 February 2021. The stock hit a 52-week low of Rs 72.80 on 13 October 2020.
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