Vascon Engineers shines on plan to raise Rs 100-150 crore via asset sales and rights issue

12 Mar 2014

Vascon Engineers is currently trading at Rs. 27.90, up by 2.50 points or 9.84 % from its previous closing of Rs. 25.40 on the BSE.

The scrip opened at Rs. 27.40 and has touched a high and low of Rs. 27.90 and Rs. 26.65 respectively. So far 101423 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 36.95 on 12-Mar-2013 and a 52 week low of Rs. 13.50 on 19-Feb-2014.

Last one week high and low of the scrip stood at Rs. 25.40 and Rs. 15.55 respectively. The current market cap of the company is Rs. 251.61 crore.

The promoters holding in the company stood at 38.67 % while Institutions and Non-Institutions held 3.25 % and 58.08 % respectively.

Vascon Engineers is looking to raise Rs 100-150 crore via asset sales and rights issue. The company is taking this step with an aim to bring down debt from the current Rs 320 crore. The company has recently secured orders worth Rs 245 crore for construction of two residential projects, in which it will enjoy margins of around 15% for these projects.

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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Vascon Engineers Share Price

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323