Multibagger penny stock under Rs 100 & Rs 3,365 crore order book: This civil construction company bags new order worth Rs 331 crore to Construct Medical College!
The stock gave returns of 49.55 per cent in just 1 year and multibagger returns of 551 per cent in 5 years.
Vascon Engineers Limited has received a Letter of Acceptance amounting to Rs 331.38 crore (Excluding GST) from Chief Engineer, Public Work, Regional Department, Konkan Mumbai (Department of Medical Education and Medicine) for constructing Medical College carrying capacity of 100 student, 500 bedded hospital and Ancillary building at Sindhudurg. The work has been awarded on ‘EPC Lumpsum basis’. The work has to be completed within 30 months from the date of receipt of Letter of Acceptance dated August 12, 2024 received on August 13, 2024 .
Earlier, the company informed investors that a meeting of the Board of Directors of the Company is scheduled to be held on Wednesday, August 14, 2024, inter alia, to consider and approve the Unaudited Financial Results (Standalone and Consolidated) for the Quarter ended June 30, 2024 along with other matters.
Order book: As of March 31, 2024, the company order book stands at Rs 3,365 crore (Forming a healthy order book of 5.09x FY23 EPC revenues).
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Today, shares of Vascon Engineers Ltd slipped by 0.44 per cent to Rs 74.60 per share from its previous closing of Rs 74.89. The stock traded at an intraday high of Rs 77.67 and an intraday low of Rs 72.81.
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. Talking about the financials, Vascon Engineers has a market cap of over Rs 1,900 crore. The company is about to report Quarterly Results (Q1FY25) as mentioned above.
The shares of the company have a PE of 24.6x whereas the industry PE is 45.2x. The stock gave returns of 49.55 per cent in just 1 year and multibagger returns of 551 per cent in 5 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.