Vascon Engineers surges on receiving letter of award from Vedanta

Vascon Engineers is currently trading at Rs. 25.40, up by 2.55 points or 11.16% from its previous closing of Rs. 22.85 on the BSE.

The scrip opened at Rs. 24.60 and has touched a high and low of Rs. 26.25 and Rs. 24.60 respectively. So far 37543 shares were traded on the counter.

The BSE group ‘B’ stock of face value Rs. 10 has touched a 52 week high of Rs. 31.75 on 08-Oct-2021 and a 52 week low of Rs. 13.30 on 28-Jan-2021.

Last one week high and low of the scrip stood at Rs. 26.45 and Rs. 21.90 respectively. The current market cap of the company is Rs. 496.57 crore.

The promoters holding in the company stood at 34.95%, while Institutions and Non-Institutions held 0.01% and 65.03% respectively.

Vascon Engineers has received letter of award amounting to approximately Rs 199 crore from Vedanta for construction of Cairn Oil & Gas Residential Complex at Barmer, Rajasthan. The work has been awarded on Design and Build basis. The work has to be completed within 18 months from the date of receipt of this letter of award.

Vascon Engineers is one of the foremost listed real estate companies headquartered in Pune 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.

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