IRCON-RVNL Shares Soar as Government Plans a Merger 

Shares of IRCON International Ltd and Rail Vikas Nigam Limited (RVNL) rose sharply today after news surfaced that the government was considering merging the two railway public sector enterprises (PSUs).
 
IRCON International shares opened unchanged at Rs 133 on the National Stock Exchange (NSE). The stock surged to an intraday high of Rs 149.43, up 11.7%. While the railway PSU shares reached an intraday high of Rs 298.40, up nearly 7%.

The Ministry of Railways has floated a formal proposal to merge IRCON International and RVNL. According to sources, the merger proposal will need clearance from the Ministry of Finance, the Department of Public Enterprises, and the Cabinet Committee on Economic Affairs (CCEA).

However, IRCON International and RVNL have not provided any updates to the exchanges regarding the proposed merger.
 
If authorised, the proposed merger will bring together two of India’s top railway infrastructure corporations to establish a more integrated entity.
 
IRCON International and RVNL are both Navratna Central Public Sector Enterprises (CPSEs) with administrative oversight from the Ministry of Railways.

IRCON International was established in 1976 and specialises in turnkey infrastructure projects such as trains, roadways, and metro systems. RVNL was founded in 2003 with an emphasis on the rapid planning, construction, and implementation of railway infrastructure projects.

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