700 per cent returns and Rs 1,980 crore order book: This multibagger construction company bags multiple work order worth Rs 614.28 crore!
Shares of the company jumped more than 170 per cent in the last 6 months.
On October 10, 2023, Vascon Engineers Limited informed in the exchange filing that it had received a letter of acceptance for an order worth Rs 352.91 crore from Jharkhand State Building Construction Corporation Limited (Govt. of Jharkhand Undertaking). The order is for the remaining work of the construction of the Medical College and the Upgradation of the District Hospital at Koderma.
Earlier on Monday, the company also bagged an order from Bridge and Roof Co. India Ltd (A Government of India Enterprise) worth Rs 262.19 crore. The order is for planning, designing, construction, IT (Networking) and maintenance of the Government Medical College at District Kanker, Chhattisgarh under Chhattisgarh Medical Services Corporation Limited, (Government of Chhattisgarh).
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Vascon Engineers Limited, established in 1986, is a Construction Engineering Company in India with a presence in the Real Estate business having an asset-light model and Clean Room Partition manufacturing business. The company has executed over 200 projects with a construction area of over 50 Mn Sq Ft.
Today, the stock opened at Rs 75.00, with a high and low of Rs 76.75 and Rs 74.00. The stock is currently trading at Rs 75.25, up by 2.05 per cent. The stock has a 52-week high of Rs 78.45 and a 52-week low of Rs 23.83. In the last three years, the shares of the company have delivered multibagger returns of over 790 per cent returns. The company has an order book of Rs 1980 crores.
The stock has shown tremendous growth and investors should keep a close eye on this stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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