Penny Stock Under Rs 20 Locked in 20% Upper Circuit after Execution of Framework Agreement worth Rs 2,200 Crore with ROSHN Group Company
The shares of the company saw a spurt in volume by more than 10 times on BSE.
On Wednesday, shares of SEPC Ltd were locked in a 20 per cent upper circuit to Rs 15.39 per share from its previous closing of Rs 12.83 per share. The stock’s 52-week high is Rs 33.50 per share and its 52-week low is Rs 12.03 per share. The shares of the company saw a spurt in volume by more than 10 times on BSE.
SEPC has executed a Framework Agreement with M/s ROSHN Group Company, Riyadh, Kingdom of Saudi Arabia (KSA), to carry out infrastructure works in KSA. SEPC has bid for infrastructure works in 3 zones of Jeddah North, Phase 1A for about SAR 893 million (approx. Rs 2,200 crore). Based on the signing of the Framework Agreement, orders (Called-Call-Off-Orders) can be expected for a minimum of one zone out of the three Zones.
Additionally, SEPC Ltd has informed that the name of our wholly owned subsidiary has been changed from “Shriram EPC (FZE)” to “SEPC FZE”, as approved by the Sharjah Airport International Free Zone (SAIF Zone), Government of Sharjah.
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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 2,400 crore. From Rs 12.03 (52-week low) to Rs 15.39 per share; the stock is up 28 per cent and gave multibagger returns of 470 per cent in 5 years. Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.