Vascon Engineers Shares Jump Nearly 8% After Rs 356 Crore Order Win

Shares of Vascon Engineers Ltd. surged nearly 8% on Tuesday after it bagged a Rs 356.78-crore order to construct a general hospital building in Pune.

The company won the contract from the Pune's municipal secretary's department to build the building for PCMC Hospital in Moshi locality of Pune's Pimpri-Chinchwad, according to an exchange filing on Monday. The work has to be completed within 36 months from the date of acceptance.

Shares of the company rose as much as 7.8% to Rs 80.50 apiece. It pared gains to trade 4.4% higher at Rs 77.95 apiece as of 09:55 a.m. This compares to a 0.4% advance in the NSE Nifty 50 Index.

It has risen 131.68% on a year-to-date basis. Total traded volume so far in the day stood at 1.8 times its 30-day average. The relative strength index was at 55.90.