160% Rally In 1-Yr: Small Cap Construction Company Bags 606-Cr Order, Spurts 4%

Shares of small cap company Vascon Engineers Ltd witnessed a spurt in volume by over 2.01 times in morning trade on BSE today. Vascon Engineers shares traded new 52-week high too as it bagged order worth Rs 605.65 crore from from Bihar Medical Services & Infrastructure Corporation Limited. Current market of Vascon Engineers stock is Rs 62.70 per share with intraday gain of 4.22%. Check details below:

Vascon Engineers Hits 52-Week High On Rs 606-Cr Order Win: According to the BSE filing of Vascon Engineers dated August 24, 2023, "We are pleased to inform that Vascon Engineers Limited has received Letter of Acceptance amounting to Rs.605.65 Crores (including GST) from Bihar Medical Services & Infrastructure Corporation Limited (A Government of Bihar undertaking)."

The work has to be completed within 36 months from the date of receipt of Letter of Acceptance, added the BSE filing of Vascon Engineers. The work has been awarded on 'EPC basis'.

Vascon Engineers Stock Performance & Return: Current market price of Vascon Engineers stock is Rs 62.70 on BSE. Its 52-week high price is Rs 65.57 apiece and 52-week low price is Rs 23.25 apiece, respectively. It has a market capitalisation of Rs 1,366.92 crore. Vascon Engineers shares surged 65% in last 3-months, gained 107% in last 6-months, soared 158% in last 2-years, and rose 460% in last 3-years.

Vascon Engineers Financial Outlook: The company for the quarter June 30, 2023 announced a decline of 37.24% in its consolidated total income at Rs 208.41 crore as against its preceding quarter total income of Rs 332.07 crore. It declared its recent quarter net profit after tax at Rs 11.78 crore.

Vascon Engineers About: Vascon Engineers is engaged in conceiving, developing, constructing and managing varied projects. It has presence across multiple sectors including residential, industrial, IT parks, malls and multiplexes, hospitality and community welfare centres, schools and hospitals, among others.

Disclaimer: The stock witnessed a rally after it bagged Rs 606 crore order today. Greynium Information Technologies and the author are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.