Vascon Engineers surges on getting LoA worth Rs 605.65 crore

Vascon Engineers is currently trading at Rs. 62.46, up by 2.30 points or 3.82% from its previous closing of Rs. 60.16 on the BSE.

The scrip opened at Rs. 64.31 and has touched a high and low of Rs. 65.57 and Rs. 62.29 respectively. So far 788031 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 65.57 on 24-Aug-2023 and a 52 week low of Rs. 23.25 on 24-Aug-2022.

Last one week high and low of the scrip stood at Rs. 65.57 and Rs. 51.70 respectively. The current market cap of the company is Rs. 1376.92 crore.

The promoters holding in the company stood at 32.20%, while Institutions and Non-Institutions held 0.62% and 67.18% respectively.

Vascon Engineers has received Letter of Acceptance (LoA) amounting to Rs 605.65 crore (including GST) from Bihar Medical Services & Infrastructure Corporation (A Government of Bihar undertaking), for Construction of Lohia Medical College & Hospital including Hospital and Residential Building, Supaul. The work has been awarded on ‘EPC basis’. The work has to be completed within 36 months from the date of receipt of Letter of Acceptance.

Vascon Engineers is one of the leading Construction Engineering Company in India with presence in Real Estate business having an asset light model and Clean Room Partition manufacturing business.

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