IRCON shares surge 12% today; the stock revisit on high level.

The government recently gave the state-owned company ‘Navratna’ status, which has a positive impact on the price of IRCON shares. With an annual turnover of Rs 10,750 crore and a net profit of Rs 765 crore on a consolidated basis for the financial year 2022–23 (FY23), IRCON claimed to be the 15th Navratna among CPSEs.

IRCON International Ltd. shares increased significantly in Tuesday's trading, following the upward trend of domestic benchmarks. — *Price of IRCON stock: Over the past six months, the multibagger stock has increased by more than 180%.*

IRCON International Ltd. shares increased significantly in Tuesday’s trading, following the upward trend of domestic benchmarks. The stock increased 11.68% from its previous close of Rs 146.80 to a day high of Rs 163.95 in value.

With an annual turnover of Rs 10,750 crore and a net profit of Rs 765 crore on a consolidated basis for the financial year 2022–23 (FY23), IRCON claimed to be the 15th Navratna among CPSEs.

According to the technological setup, support on the counter was between Rs. 134 and Rs. 140. A short-term goal would be Rs 170, according to an analyst.

According to Jigar S. Patel, Senior Manager – Technical Research Analyst at Anand Rathi Shares and Stock Brokers, “The counter has made a nice base near the 21-day exponential moving average (EMA), which comes around Rs 135-140.”

The 14-day relative strength index (RSI) for the counter was 68.11. Oversold is defined as a value below 30, and overbought as a value beyond 70. The price-to-equity (P/E) ratio of the company’s stock is 16.93, while the price-to-book (P/B) ratio is 2.83.