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Vascon Engineers zooms on plan to sell its holding in Viorica Hotels for Rs 15.60 crore

13 Dec 2016

Vascon Engineers is currently trading at Rs 32.00, up by 0.85 points or 2.73% from its previous closing of Rs. 31.15 on the BSE.

The scrip opened at Rs. 31.25 and has touched a high and low of Rs. 33.00 and Rs. 30.90 respectively. So far 395218 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 41.85 on 26-Oct-2016 and a 52 week low of Rs. 20.80 on 29-Feb-2016.

Last one week high and low of the scrip stood at Rs. 33.00 and Rs. 30.30 respectively. The current market cap of the company is Rs. 521.12 crore.

The promoters holding in the company stood at 46.77%, while Institutions and Non-Institutions held 2.95% and 50.28% respectively.

Vascon Engineers has received an approval for sale of its holding in Viorica Hotels for a consideration of Rs 15.60 crore. The board of directors at its meeting held on December 13, 2016 has approved for the same.

Earlier in February, the company had sold 66,69,492 shares or 19.07% of share capital of Ascent Hotels to Samhi Hotels (SAMHI) for a total consideration of Rs 26.67 crore by Share Purchase Agreement.

Vascon Engineers has significant experience in providing EPC services, which include, constructing factories, hospitals, hospitality properties, office and residential complexes, shopping malls, multiplexes, IT parks and other buildings.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323