Vascon Engineers in the limelight

Vascon Engineers is in the limelight today morning. The stock price rose over 5.5% to Rs.18.30 and remains some 4% up. Its UC is at 20% at Rs.20.75.

The market is enthused with the news that it has recently concluded two transactions worth Rs 50 crore. The first transaction comprised of sale of amenity plot along with school building to Infraschool Services Gurgaon for a total consideration of Rs 36.50 crore.

The second transaction involved sale of land situated at Balewadi, Baner along with all other joint partners to Keywest Realty for a consideration of Rs 100 crore. Vascon's share in this sale is Rs 13.10 crore.

The company has stated that the proceeds of these non-core asset sale transactions will ensure adequate liquidity for its operations.