From Rs 11.88 to Rs 31.64 per share: DIIs-backed multibagger penny stock hit 52-week high on September 09
From Rs 11.88 (52-week low) to Rs 31.64 per share (intraday high of September 09, 2024); the stock gave multibagger returns of 166.33 per cent and a whopping 525 per cent in 3 years.
On Monday, shares of SEPC Ltd gained 6.96 per cent and made a fresh 52-week high of Rs 31.64 per share from its previous closing of Rs 29.58. At the closing bell, shares of the company were trading at Rs 30.28 per share, up 2.37 per cent with a total of 37.61 lakh shares changed hands on BSE.
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.
The Hutti Gold Mines Limited (HGML) has recently issued a Final Acceptance Certificate (FAC) to SEPC Limited, signifying the successful completion of a major construction project. The contract for this project, valued at Rs 232 crores, was awarded to SEPC in 2013. The scope of work included the construction of a new circular shaft with complete winding installations on a turnkey basis in Hutti, Raichur District, Karnataka, India. SEPC received the FAC on August 22, 2024, which confirmed that all systems, equipment and instruments were tested and found to comply with the project specifications. The one-year warranty period stipulated in the contract has also been successfully completed.
DSIJ's ‘Penny Pick’ service provides research-backed penny stock recommendations below Rs. 100. If this interests you, do download the service details here.
In another significant development, SEPC's wholly-owned subsidiary, Shriram EPC FZE, has secured a substantial contract valued at 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 be responsible for the entire project lifecycle, including design, engineering, project management, civil works, supply, erection, testing and commissioning of the cement plant. The project is expected to be completed within 30 months. This international contract marks a significant milestone for SEPC Limited, solidifying its position as a leading player in the global cement industry.
SPEC has a market cap of over Rs 4,700 crore. From Rs 11.88 (52-week low) to Rs 31.64 per share (intraday high of September 09, 2024); the stock gave multibagger returns of 166.33 per cent and a whopping 525 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.
Also Read: Wind Energy Stock Under Rs 80 In Focus As Company Announces India's Largest Wind Energy Order of 1,166 MW from NTPC Green Energy Ltd