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Vascon Engineers surges on receiving letter of acceptance worth Rs 160 crore

Vascon Engineers is currently trading at Rs. 14.30, up by 0.17 points or 1.20% from its previous closing of Rs. 14.13 on the BSE.

The scrip opened at Rs. 14.12 and has touched a high and low of Rs. 14.94 and Rs. 13.97 respectively. So far 22020 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 20.90 on 07-Nov-2018 and a 52 week low of Rs. 10.00 on 02-Aug-2019.

Last one week high and low of the scrip stood at Rs. 14.94 and Rs. 13.12 respectively. The current market cap of the company is Rs. 257.76 crore.

The promoters holding in the company stood at 36.07%, while Institutions and Non-Institutions held 0.47% and 63.46% respectively.

Vascon Engineers has received letter of acceptance from Bangalore Metro Rail Corporation (A Joint Venture of Government of Karnataka & Government of India) for construction of Metro Rail Depot Structures, Site Development Works, Internal Roads & Drainage Works in Depot Area at Kadugodi in Reach -1 Extension of Line of Bangalore Metro Rail Project, Phase-2 amounting to Rs 160 crore plus applicable taxes on Item Rate Basis. The work has to be completed within 24 months from the date of signing of agreement.

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

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