On Thursday this small-cap stock soars ~4% after securing an order of Rs. 605.65 Cr and this stock reached a new 52-week high of Rs. 65.70.The stock price is being supported by a big volume increase that was greater than the previous day and last week. Currently, shares of this company are trading above the 50-day and 200-day moving averages.
Vascon Engineers Ltd
The company has a market valuation of Rs. 1,353 Cr., making it a small-cap. At 1.15 p.m. the company shares were trading 3.61% up at Rs. 62.34.
According to the company filing, the company has received an order worth Rs. 605.65 Cr from Bihar Medical Services & Infrastructure Corporation Ltd for the Construction of Lohia Medical College & Hospital including the Hospital and Residental Buildings, Suspal. The work has been funded on an ‘EPC’ ( Engineering, procurement and Construction) basis.
The stock delivered 160% returns to the shareholders in one year, therefore making an investment of 1 lakh one year ago now would be worth 2.6 lakhs.
As per the company filing, the company’s total consolidated revenue increased by 2.7% YoY from Rs. 202.9 Cr in Q1 FY23 to Rs. 208.4 Cr in Q1 FY24, for the same period a net profit grew by 12% from Rs. 10.6 Cr to Rs. 11.9 Cr.
According to the latest shareholder information, Promoters own 32.20%, DIIs own 0.11%, FIIs own 0.55%, and the general public owns a 67.18% stake in this company.
Vascon Engineers Ltd. is a construction company that specializes in engineering, procurement, and construction (EPC), manufacturing, building management systems (BMS), and real estate development.
Written by Sheshadri N
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