Meanwhile, the S&P BSE Sensex was up 388.39 points or 1.17% at 33,495.21. The S&P BSE Small-Cap index advanced 230.08 points or 1.32% at 17,692.94.

On the BSE, 1.84 lakh shares were traded on the counter so far as against the average daily volumes of 1.98 lakh shares in the past one quarter. The stock had hit a high of Rs 38.95 and a low of Rs 37.25 so far during the day. The stock had hit a 52-week high of Rs 58.80 on 15 May 2017 and a 52-week low of Rs 26.15 on 27 December 2016.

The stock had outperformed the market over the past one month till 16 November 2017, rising 1.67% compared with the 1.6% gain in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 9.75% as against Sensex's 5.02% rise. The stock, however, underperformed the market over the past one year, advancing 22.41% compared with the 26.23% upmove in the Sensex.

The small-cap company has equity capital of Rs 167.66 crore. Face value per share is Rs 10.

Vascon Engineers said that board of directors of GMP Technical Solutions, a material subsidiary of the company has approved slump sale of its Mumbai division and accordingly a Business Transfer Agreement is signed on 16 November 2017 with Innovative Core Systems (Acquirer) to sell and transfer its stake held in Mumbai division for Rs 18 crores.

Vascon Engineers' net profit jumped 139.68% to Rs 1.51 crore on 14.97% fall in net sales to Rs 54.60 crore in Q2 September 2017 over Q2 September 2016.

Vascon Engineers is an engineering, procurement and construction (EPC) company. It is active In multiple sectors including residential, industrial, IT parks, malls and multiplexes, hospitality and community.