Vascon Engineers witnessed a notable 5% rise in its share price during early trade on November 21, propelled by the company securing a Letter of Intent (LoI) for a substantial project worth Rs 356.78 crore in Maharashtra. As of 10:23 am, Vascon Engineers was trading at ₹77.75, reflecting a 4.08% increase on the BSE.
The newly acquired order involves the construction of a hospital building for PCMC Hospital in Moshi, located in Pimpri-Chinchwad, Pune. This comes on the heels of a significant Rs 262-crore order secured by the company in October from Bridge and Roof Company, a government enterprise.
The earlier project encompassed planning, designing, construction, IT, and maintenance for the government medical college in Kanker district, Chhattisgarh.