SEPC shares up over 4% on bagging Rs 183-cr order from Bihar Government
Source: Business Standard
SEPC shares surge: Shares of SEPC rose as much as 4.42 per cent to hit an intraday high of Rs 31.62 per share on Tuesday, September 10, 2024. Notably, the 52-week high of the stock is Rs 31.64 per share.
The uptick in SEPC share price came after the company announced that it has secured an order of Rs 182.56 crore.
In an exchange filing, SEPC said, “This is to inform you that we have been awarded a work order for Rs 182,56,76,000 (Rupees One hundred and eighty-two crores fifty-six-lakhs seventy-six thousand only) from Irrigation Division, Government of Bihar.”
Under the terms of the contract, SEPC will be responsible for a range of tasks including detailed survey and investigation, planning and design, supply of all materials, labour, equipment, and machinery, construction, execution, installation, testing, and commissioning.
The project, which aims to provide drinking water to Bhabhua and Mohania Town under the Jal-Jeevan-Hariyali Abhiyan on a turn-key basis using surface water, is expected to be completed within 12 months.
Additionally, a 3-month trial run period will follow the completion, with SEPC also providing comprehensive operation and maintenance for a duration of 60 months after the successful trial run.
Founded in June 2000 and formerly known as Shriram EPC Ltd until February 2021, SEPC was majority-owned by Mark AB after a Rs 350 crore infusion in September 2022.
The company specialises in executing EPC contracts and offers integrated solutions in design, engineering, procurement, construction, and project management across water, process metallurgy, and infrastructure sectors.
The market capitalisation of SEPC is Rs 4,884.87 crore, according to Bombay Stock Exchange (BSE). The company falls under the BSE SmallCap category. The 52-week low of the SEPC stock is Rs 11.88 per share.
At 12:20 PM, shares of SEPC were trading 3.20 per cent higher at Rs 31.25 per share. In comparison, BSE Sensex was trading 0.37 per cent higher at 81,864.65 levels.
First Published: Sep 10 2024 | 12:30 PM IST
