DIIs-backed multibagger penny stock under Rs 25; The company to commence work on Construction of Cement Project worth of Rs 2,700 crore
The stock is up by 59 per cent from its 52-week low of Rs 11.88 per share and gave multibagger returns of over 254 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
On Monday, shares of SEPC Ltd gained 2.66 per cent to Rs 18.96 per share from its previous closing of Rs 18.44. The stock’s 52-week high is Rs 26.73 and its 52-week low is Rs 11.88.
SEPC Ltd’s Wholly Owned Subsidiary Shriram EPC FZE have received the Notice to commence work on Construction of Cement Project at a total project cost in excess of USD 325 Million (equivalent to in excess of Rs 2,700 Cr at current Exchange Rate) from JV OHONGORON SEMENT MS LLC at Tashkent, Republic of Uzbekistan.
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Earlier, The company confirmed that the Rights Issue Committee, acting in accordance with the Letter of Offer dated June 27, 2024, and allotment guidelines set with the issuing registrar and the stock exchange, has approved the allotment of 15,38,46,153 new shares at a face value of Rs 10 each. These shares will be issued to eligible applicants at a price of Rs 13 per share, which includes a premium of Rs 3 per share.
Shriram EPC Ltd (SPEC) is a leading service provider of integrated design, engineering, procurement, construction, and project management services for water and waste-water treatment plants, water infrastructure, process and metallurgy plants, power plants, and mines and mineral processing. Domestic Institutional Investors (DIIs) own a 25.16 per cent stake in the company and the majority of DIIs are Punjab National Bank (PNB), Central Bank of India, The South Indian Bank, Axis Bank, Bank of India (BOI), IndusInd Bank, Union Bank of India (UBOI), Bank of Baroda (BOB) and The Federal Bank Ltd.
SPEC has a market cap of Rs 2,955 crore. The stock is up by 59 per cent from its 52-week low of Rs 11.88 per share and gave multibagger returns of over 254 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.