SEPC shares rise 11% on ₹855 crore SAIL contract
SEPC shares rose 11% after securing ₹854.57 crore contract with SAIL for expansion work. The company's order book has exceeded ₹10,000 crore, highlighting strong demand in the sector.
after close1 source ↓machine-written, see hownot a recommendation
- in Friday's trading
- 11%
- contract with Steel
- ₹854.57 crore
- was signed
- 8 Oct 2023
- a high
- ₹5.46
- increase
- 10.53%
SEPC Ltd shares surged 11% in Friday's trading session, following the announcement of a ₹854.57 crore contract with Steel Authority of India Ltd (SAIL) for work at the SAIL-IISCO Steel Plant in Burnpur, West Bengal. The contract, which was signed on 8 Oct 2023, encompasses the pellet plant balance of plant (BOP) package, including essential civil and structural works. This significant agreement is part of SAIL's broader initiative to expand its crude steel production capacity to 4.08 million tonnes per annum (MTPA). Following the news, SEPC shares reached a high of ₹5.46, reflecting a 10.53% increase from the previous close of ₹4.94.
The contract is pivotal for SEPC as it not only enhances its revenue stream but also boosts its consolidated order book, which has now surpassed ₹10,000 crore. This milestone indicates robust demand for SEPC's services in the infrastructure and construction sectors, particularly in the steel manufacturing domain. The project will be executed on a divisible turnkey basis, which is expected to streamline operations and improve project delivery timelines.
Investors should monitor SEPC's performance closely in the coming weeks, especially as the company begins work on this contract. Key milestones and updates regarding the project execution will be crucial indicators of the company's operational efficiency and financial health. The positive momentum in SEPC's stock price may continue as the market digests this significant contract win.
Source: Business Today, 08 Oct 2023
Not investment advice. For informational purposes only.