Vascon Eng hits new high

Vascon Engineers is a bright stock today morning. The stock, which had closed yesterday at Rs.60.16, opened higher at Rs.64.31 and went on to hit a new 52-week high at Rs.65.57. Profit booking at the higher levels has now put the stock at Rs.62 levels.

The stock price hit a new high on its announcement of having won a Rs.606 crore work order from Bihar government.

This is from Bihar Medical Services & Infrastructure Corporation Limited (A Government of Bihar undertaking), for construction of Lohia Medical College & Hospital including hospital and residential building, Supaul.

The work has been awarded on ‘EPC basis’ and has to be completed within 36 months from the date of receipt of Letter of Acceptance.