Vascon Engineering has rallied 7% at Rs 95.25 after the company bagged construction orders worth Rs 1,186 crore.
“The company has formed a limited liability partnership with Renaissance Micro Infrastructure & Realty for constructing an industrial and logistic park at village Vashere in Bhiwandi. The total area of the project is 16 million sq ft and the value is about Rs 1,000 crore,” the company said in a filing to the stock exchanges.
The company secured another order for around Rs 186 crore from Ecstasy Realty for civil work construction of Parthenon Phase II in Mumbai. The project has to be executed in three years, it added.
The stock opened at Rs 92 and hit a high of Rs 96.90 on the NSE. A combined 138,559 shares have changed hands on the counter till 0955 hours against an average less than 50,000 shares traded daily in the past two weeks.
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