Introduction

IRCON International Ltd. engages in the provision of engineering and construction services. It specializes in major infrastructure projects, including railways, highways, bridges, flyovers, tunnels, aircraft maintenance hangars, runways, extra high voltage sub-stations, electrical and mechanical works, commercial and residential properties, development of industrial areas, and other infrastructure activities. The company operates through the Domestic and International geographic segments.

Observation

As we can see stock making HH and HL which indicated stock will continues its uptrend although stock is retracing from its ATH with shooting star pattern it can pull back from given levels that is mentioned on the chart (S1, S2, S3) from here stock can pull back for upward direction stock Crossover already happen last year April 2023 with open marubozu pattern that shows a significant move in future as well stock shows a diversion on weekly and monthly chart.

Let's touch fundaments

Technical Analysis & indicators 🔍

Crossover

Uptrend

News of the day

1. Sanofi French drugmaker plans to invest 400 million euros (₹3,590 crore) in its global capacity center (GCC) in India by the end of the decade, as it aims to expand and more than double its workforce over the next two years, a top company executive said on Wednesday. Sanofi will first invest 100 million euros (₹898 crore) by next year, Madeleine Roach, Executive Vice President, Business Operations, said at an event on Wednesday. The GCC, an offshore facility in India's southern city of Hyderabad, is Sanofi's largest globally with an existing workforce of 1,000 employees. The company, which also makes vaccines, has GCCs in Budapest, Malaysia and Colombia. The company aims to increase its strength to 2,600 by 2026, Roach told Reuters on the sidelines of the event.

2. Suzuki Motor aims to develop vehicles with lighter frames and batteries, including in its first fully electric vehicles slated to hit the market next year, as part of long-term plans to minimize energy consumption. The Japanese automaker on Wednesday reiterated plans to roll out battery EVs beginning in 2025, with an aim to developing vehicles with lighter-weight and more-efficient batteries amid an expected uptick in demand for EVs in the key markets of Japan, India and Europe. "We believe that a multi-pathway approach to technology, including EVs, hybrids, and ICEs using carbon-neutral fuels, is necessary depending on the timing and region," the company said."

3. Glenmark Pharmaceuticals secured US Food & Drug Administration's final approval for topiramate capsules, 15 mg and 25 mg, according to a press release filed with the Indian bourses on Tuesday. Topiramate, a generic equivalent of Janssen Pharmaceuticals' Topamax, is indicated for the treatment of epilepsy.

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