India's Vascon Engineers rises on receiving LoA worth $11.60 mln

Vascon Engineers

24/02/2023 04:24

** Shares of Vascon Engineers Ltd  VASC.NS  rise as much as
6.5% to 31.95 rupees, biggest intraday pct gain since Feb. 8
    ** Co receives Letter of Acceptance (LoA) worth up to 959.2
million rupees ($11.60 million) from Pune Metropolitan Region
Development Authority
    ** LoA for construction of residential quarters along with
welfare complex, multipurpose hall, and retail shops
    ** To be completed within 18 months from the date of
receiving environment clearance
    ** About 463,000 shares change hands by 9:37 a.m. IST, 0.5x
30-day avg
    ** Stock last up 3.8%, cutting YTD losses to 7.2%
    ($1 = 82.6690 Indian rupees)
 (Reporting by Dimpal Gulwani in Bengaluru)
 ((dimpal.gulwani@thomsonreuters.com))