This small-cap construction company bags a work order worth Rs 77.42 crore from Vedanta Limited

Shares of the company jumped more than 45 per cent in the last 6 months.

On February 10, 2023, Vascon Engineers Limited informed in the exchange filing that it has received a letter of award worth Rs 77.42 crore from Vedanta Limited for the development of landscape, services and infrastructure for the cairn oil and gas residential complex at Barmer, Rajasthan. The work has been awarded on a design, and build basis. The work has to be completed within 12 months of order receipt.

Vascon Engineers Ltd, 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.

On February 10, the stock opened at Rs 32.50, with a high and low of Rs 34.10 and Rs 32.30. The stock closed trading at Rs 33.05, up by 1.38 per cent.  

In the last 6 months, the shares of the company have given more than 45 per cent returns and on a YTD basis, the stock has given about -7 per cent returns.

The stock has a 52-week high of Rs 42 and a 52-week low of Rs 18.60. The company has a ROCE of 2.33 per cent and an ROE of 0.53 per cent with a market capitalisation of Rs 717 crore.