Vascon Engineers surges on receiving LOA worth Rs 235.76 crore

18 Sep 2017

Vascon Engineers is currently trading at Rs. 40.35, up by 5.10 points or 14.47% from its previous closing of Rs. 35.25 on the BSE.

The scrip opened at Rs. 36.50 and has touched a high and low of Rs. 41.20 and Rs. 36.35 respectively. So far 8,03,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 58.80 on 15-May-2017 and a 52 week low of Rs. 26.15 on 27-Dec-2016.

Last one week high and low of the scrip stood at Rs. 41.20 and Rs. 35.05 respectively. The current market cap of the company is Rs. 677.35 crore.

The promoters holding in the company stood at 36.39%, while Institutions and Non-Institutions held 0.29% and 63.32% respectively.

Vascon Engineers has received a Letter of Award (LOA) (subcontract) from Shapoorji Pallonji and Company, a Domestic Entity for the work of Civil Construction of Affordable Housing in Adoni Municipal Area and Nandyal Municipal Area of Kurnool District in Andhra Pradesh amounting to Rs 235.76 crore. The work has to be completed within13 months from the date of receipt of work order.

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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