Ircon International To Consider Bonus Issue, Interim Dividend; Shares Up 9%

On Tuesday, Ircon International shares rose as much as 8.8% to Rs 93.90 a piece after the company announced that its board will be meeting on 15 February to consider bonus issue and interim dividend. The news sent shares of the Railway engineering firm sharply higher in noon trade.

"Pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 {SEBI (LODR), Regulation, 2015}, it is hereby informed that a meeting of the Board of Directors of the Company is scheduled to be held on Monday, 15th February, 2021 , inter-alia to consider & approve: 1. the Interim Dividend, if any, for the Financial Year 2020-21; and 2. the proposal for issuance of Bonus Shares," said Ircon International Limited in a stock exchange filing.

The railway engineering firm, which was listed on the bourses in 2018, also informed that record date for the purpose of payment of interim dividend for the financial year 2020-21, would be 24 February 2021, subject to the declaration of the said Interim Dividend by the Board of Directors in its meeting to be held on 15 February 2021.

Ircon will announce its quarterly results on 13 February.

Last month, Ircon said it has its concluded Rs 750 crore Kharsia-Dharamjaigarh project in Chattisgarh by completing 30 KM Korichhapar- Dharamjaigarh section. Commencement of this section will help in evacuation of coal from the north Chhattisgarh area.