SEPC Hits Record High After Winning Rs 232 Crore Contract
Hutti Gold awarded the company the final acceptance certificate to build a new circular shaft complete with winding installations at its mines in Raichur District, Karnataka.
Shares of SEPC Ltd., formerly known as Shriram EPC Ltd., hit a record high on Monday after it won a contract worth Rs 232 crore from Hutti Gold Mines Ltd.
Hutti Gold awarded the company the final acceptance certificate for the 2013 contract agreement to build a new circular shaft complete with winding installations at its mines in Raichur District, Karnataka.
“The said certificate from HGML was received by us on Aug. 22, 2024, and confirms that the systems installed and all electrical, mechanical equipment, instruments, DC/AC drives, PLC systems were tested with 11 kV grid power and also with diesel generator power and found satisfactory. The certificate also confirms that, as per the terms of the contract, a one-year warrantee period was also completed,” the construction company said in the filing.
Shares of the company rose as much as 7.8% to a life-time high of Rs 27.5 apiece on the NSE. It was trading 3.5% higher at Rs 26.39 apiece, compared to a 0.6% advance in the benchmark Nifty 50 as of 10:59 a.m.
The stock has risen 94% in the last 12 months and 35% on a year-to-date basis. The total traded volume so far in the day stood at 9.9times its 30-day average. The relative strength index was at 73.
