On Tuesday this small-cap stock gains up to 4% after the company received an order worth Rs. 352.91 Cr. The stock closed 4.5% away from the 52-week high and 25.9% & 46.4% above the 50-day and 200-day moving averages.
Vascon Engineers Ltd
Vascon Engineers Ltd has a market capitalisation of Rs. 1,630 Cr making it a small-cap company. The stocks closed at Rs. 75.05 on Tuesday. The stock hit an intra-day high of Rs. 76.75 indicating a gain of up to 4% as compared to the previous closing price of Rs. 73.74.
According to the BSE filing, Vascon Engineers Ltd has received a letter of acceptance amounting to Rs. 352.91 Cr from Jharkhand State Building Construction Corporation Limited for the remaining work of Construction of the Medical College and Upgradation of District Hospital at Koderma. The work is awarded on a BOQ basis.
The stock has given 178% returns in six months and 167% in one year, therefore making an investment of 1 lakh six months ago now would be worth Rs. 2.78 lakhs and making the same amount of investment one year ago now would be worth Rs. 2.67 lakhs.
The company’s total revenue grew by 2.6% from Rs. 202.95 Cr in Q1 FY23 to Rs. 208.41 Cr in Q1 FY24 and for the same period, net profits increased by 10.2% from Rs. 10.81 Cr to Rs. 11.91 Cr.
As per the latest shareholding information, Promoters hold 32.20%, FIIs hold 0.51%, DIIs hold 0.11% and the public hold a 67.18% stake in the company.
Vascon Engineers Ltd. is a real estate development company that also provides contracting services. In addition, the company owns hotels, shopping malls, and an office building with partners.
Written by Sheshadri N
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