IRCON share price From its previous closing of Rs 133.45, the company climbed 19.97% to a 52-week high of Rs 160.10. In the last six months, the multi-bagger counter has increased by 200.83%, and in the last year, it has increased by 286.71%.
In trading on Monday, IRCON Share Price rapidly increased to reach a brand-new high. Over its previous closing of Rs 133.45, the stock climbed 19.97 percent to a 52-week high of Rs 160.10. In the last six months, the multi-bagger counter has increased by 200.83%, and in the last year, it has increased by 286.71%. The stock’s ex-dividend date was September 5 last week. A final dividend of Rs. 1.20 was issued by the corporation.
Railways-related equities increased, according to market expert Ravi Singh, following the announcement of a connectivity agreement intended to connect India with Middle Eastern nations. On the sidelines of the G20 Summit in New Delhi, Prime Minister Narendra Modi announced a shipping and rail transit corridor on Saturday.
IRCON share price
“IRCON share price is now trading at high volumes and is likely to keep rising in the near future. The trend is supported by the technical parameters. The Rs 180 level may present resistance for the stock. Beyond this, the level of Rs 220 is quite likely,” Singh said.
“IRCON share price has seen a vertical rally in the last couple of trading weeks on the back of robust volumes and has surged nearly 3x in the current financial year,” said Osho Krishan, Senior Analyst of technical and Derivative Research at Angel One. The stock has experienced numerous breakouts that defy gravity.
There is a chance that the counter will book some profits after such a robust gain. However, the stock is solid and has the potential to maintain its upward trend when viewed over a longer period of time. In terms of levels, the breakout zone is located around Rs. 120, with immediate support located between Rs. 141 and 135 next. The undertone is likely to continue positive until it sustains above that level, thus dips should be used to add long positions.
“The stock has indicated a decent spurt in the last two sessions with strong volume built-up and strength indicated with the next target expected till Rs 166 level,” said Vaishali Parekh, Vice-President of Technical Research at Prabhudas Lilladher. A further break would allow for the next target of Rs 186 level, with the stock showing a lot of potential. The area between Rs. 142-144 would provide short-term support from current levels, and only a sharp decline below Rs. 135 would undermine the general trend. Until then, one can continue investing and look forward to more benefits in the days ahead.
“On the daily charts, the stock is still in the bullish territory,” stated Ganesh Dongre, Senior Manager – Technical Research Analyst at Anand Rathi Shares & Stock Brokers. Investors can “buy on dip” or hold this stock with a stop loss of Rs. 130 in order to achieve targets of Rs. 165–170 in the following week.
According to AR Ramachandran of Tips2trades, “IRCON share price has been quite positive on the daily charts, but it has also been overbought with the next resistance at Rs. 159. Investors should take gains now since a daily closing below support at Rs. 133.65 might trigger a swift decline in the near term all the way to Rs. 111.5.
The stock has been on an upward trend since July, and today we saw a momentum breakout with volumes, according to independent market analyst Kush Ghodasara of CMT. A new position is not recommended since the risk-to-reward ratio is unfavorable. Keep your stop loss trailing at Rs. 121.
An engineering and construction firm with a focus on transportation infrastructure is called IRCON share price. In 1976, the PSU was founded.