Vascon Engineers gets Letter of Acceptance at Rs505.54cr

Vascon Engineers Ltd has received a Letter of Acceptance from the Public Works Department. Divison-3. New Raipur. Chhattisgarh for "Construction of 'Raj Bhavan, Honorable Chief Minister's House, Honorable Minister's Residential House & Higher Officer Residential House" in New Raipur, Chhattisgarh amounting to Rs505.54cr. The work has been awarded on "Item Rate Basis".

The work has to be completed within 24 months from the date of signing of agreement, the company said in the filing.

Vascon Engineers Ltd is currently trading at Rs12.52, down by Rs0.15 or 1.18% from its previous closing of Rs12.67 on the BSE.

The scrip opened at Rs12.74 and has touched a high and low of Rs12.99 and Rs12.52 respectively.