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Vascon Engineers rises after residential project gets good response

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rose 1.25% to Rs 48.45 at 9:41 on after the company said it sold 85% of the units in its new residential project in on the day of its launch.

The announcement was made after market hours yesterday, 15 January 2018.

Meanwhile, the Sensex was up 82.98 points, or 0.24% to 34,926.49.

On the BSE, 1.23 lakh shares were traded in the counter so far, compared with average daily volumes of 5.35 lakh shares in the past two weeks. The stock had hit a high of Rs 49 and a low of Rs 47.20 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.

announced that it sold 68 units, or 85% of the units, in its new residential project 'Forest Edge' on the day of its launch. The project is located at Kharadi in Its first tower consists of 80 units. It was launched on the auspicious occasion of Makar Sankranti.

is a joint venture between Vascon, and with Vascon having a 50% share in the project.

Net profit of rose 139.68% to Rs 1.51 crore on 14.97% decline in net sales to Rs 54.60 crore in Q2 September 2017 over Q2 September 2016.

Vascon Engineers is one of the foremost listed companies headquartered in with over 30 years of experience delivering 200+ projects spanning over 50 million square feet of landmark developments across residential, industrial, IT parks, malls and multiplexes, hospitality and community welfare centers in 30+ cities across across and its own projects.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, January 16 2018. 09:44 IST