Vascon Engineers gains after selling stake in Viorica Hotels

Vascon Engineers rose 2.11% to Rs 29 at 12:14 IST on BSE after the company said it sold its stake in Viorica Hotels today, 21 December 2016, for Rs 15.60 crore.

Meanwhile, the BSE Sensex was up 26.99 points, or 0.10%, to 26,334.97.

On the BSE, so far 52,000 shares were traded in the counter, compared with average daily volumes of 2.50 lakh shares in the past one quarter. The stock had hit a high of Rs 30 and a low of Rs 28.45 so far during the day.

The stock hit a 52-week high of Rs 41.85 on 26 October 2016. The stock hit a 52-week low of Rs 20.80 on 29 February 2016. The stock had underperformed the market over the past 30 days till 20 December 2016, rising 1.43% compared with the 2.11% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 16.47% as against Sensex's 7.72% decline.

The small-cap company has equity capital of Rs 161.34 crore. Face value per share is Rs 10.

Vascon Engineers reported net profit of Rs 0.87 crore in Q2 September 2016 compared with net loss of Rs 8.28 crore in Q2 September 2015. Net sales fell 26.3% to Rs 51.98 crore in Q2 September 2016 over Q2 September 2015.

Vascon Engineers is an engineering, procurement and construction (EPC) company. It is active in multiple sectors including residential, industrial, IT parks, malls and multiplexes, hospitality and community.

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