DIIs-backed multibagger penny stock under Rs 30 hit 52-week high; Company receives final acceptance certificate worth Rs 232 crore from The Hutti Gold Mines Ltd (HGML)
The stock gave multibagger returns of 120 per cent from its 52-week low of Rs 11.88 per share and a whopping 500 per cent in 3 years.
On Monday, shares of SEPC Ltd gained 7.72 per cent and made a fresh 52-week high of Rs 27.50 per share from its previous closing of Rs 25.53. At the closing bell, shares of the company were trading at Rs 26.10 per share, up 2.23 per cent with a spurt in volume by more than 2.25 times on BSE.
The Hutti Gold Mines Limited (HGML) has issued a Final Acceptance Certificate to our company, SEPC, for a completed project. The contract for this project was awarded to SEPC in 2013, with a total value of Rs 232 crores. The project involved the construction of a new circular shaft with complete winding installations on a turnkey basis in Hutti, Raichur District, Karnataka, India.
SEPC received the Final Acceptance Certificate on August 22, 2024. This certificate confirms that all systems, electrical and mechanical equipment, instruments, drives, and PLC systems were tested and found to be satisfactory when powered by both 11 KV grid power and a diesel generator. Additionally, the one-year warranty period stipulated in the contract has been completed.
Earlier, the company's wholly-owned subsidiary, Shriram EPC FZE, secured a substantial contract worth over USD 325 million (approximately Rs 2,700 crore) to construct a 3.0 million tonnes per annum greenfield cement manufacturing facility in Urgaz Village, Uzbekistan. The project will be executed for JV OHONGORON SEMENT MS LLC, a Tashkent-based joint venture. Shriram EPC FZE will oversee the entire project lifecycle, encompassing design, engineering, project management, civil works, supply, erection, testing, and commissioning of the cement plant. The project is anticipated to be completed within 30 months. This international contract marks a significant milestone for SEPC Limited, reinforcing its position as a prominent player in the global cement industry.
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About the Company
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 over Rs 4,000 crore. The stock gave multibagger returns of 120 per cent from its 52-week low of Rs 11.88 per share and a whopping 500 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.
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