Vascon Engineers firms up after winning order

Vascon Engineers rose 2.49% to Rs 37 at 13:52 IST on BSE after the company said it has received letter of intent amounting to Rs 96.50 crore.

The announcement was made during trading hours today, 13 March 2018.

Meanwhile, the S&P BSE Sensex was up 4.38 points, or 0.01% to 33,922.32.

On the BSE, 1.55 lakh shares were traded in the counter so far compared with average daily volumes of 1.96 lakh shares in the past two weeks. The stock had hit a high of Rs 37.40 and a low of Rs 35.55 so far during the day. The stock hit a 52-week high of Rs 58.80 on 15 May 2017. The stock hit a 52-week low of Rs 28.20 on 11 August 2017.

Vascon Engineers has received Letter of Intent from Dream Work landmarks LLP for civil construction of core and shell works towers B-1 to B-7 in Godrej Green, Undri, Pune. The project is worth Rs 96.50 crore. The work shall be completed within 16 months from the date of receipt of work order.

Net profit of Vascon Engineers rose 64% to Rs 2.46 crore on 84.80% rise in net sales to Rs 93.51 crore in Q3 December 2017 over Q3 December 2016.

Vascon Engineers is engaged in conceiving, developing, constructing and managing varied projects. It is active in multiple sectors including residential, industrial, IT parks, malls and multiplexes, hospitality and community.

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