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Vascon Engineers gains 8% on Rs 465 cr order win

The work has to be completed within 36 months from the date of receipt of this tender.

September 04, 2019 / 02:45 PM IST
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Shares of Vascon Engineers surged 8 percent intraday on September 4 after the company received an order worth Rs 465 crore.

The company has received tender from Maharashtra State Police Housing & Welfare Corporation (A Government of Maharashtra Undertaking) for construction of staff quarters along with multipurpose hall in Mumbai amounting to Rs 465 crore, as per BSE release.

The work has been awarded on lump sum basis.

The work has to be completed within 36 months from the date of receipt of this tender.

With this, the company's order intake in current financial year is Rs 7 40 crore and total external order book, as on date, is around Rs 1400 crore.

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At 1430 hrs Vascon Engineers, was quoting at Rs 11.20, up Rs 0.84, or 8.11 percent on the BSE.
Moneycontrol News
first published: Sep 4, 2019 02:45 pm

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