Shares of SEPC were trading higher in Monday’s session after the company announced that it has received a purchase order worth Rs 230 crore from MOIL, a Government of India undertaking. The stock was trading at Rs 10.06, up 2.34%, as of 9:31 am on December 29, according to NSE data.
In a regulatory filing, SEPC said the order has been awarded by MOIL Limited, a public sector enterprise engaged in manganese ore mining. The contract pertains to a mining infrastructure project in Maharashtra and is classified as a domestic order. The company clarified that neither its promoter nor promoter group has any interest in MOIL, and the transaction does not qualify as a related-party transaction.
As per the disclosure, the scope of work includes the designing, construction, furnishing, and equipping of the 3rd Vertical Shaft at Chikla Mine. The project will be executed on a turnkey basis, covering the entire development cycle of the shaft infrastructure. The Chikla Mine is located in Maharashtra and is one of MOIL’s operational mining assets.
SEPC stated that the execution timeline for the project will be finalised mutually between the company and MOIL. No specific completion schedule was disclosed in the filing. The order has been awarded by a domestic entity and does not involve any overseas operations.
According to the company, the receipt of this order adds to its ongoing project portfolio in the infrastructure and engineering segment. The project aligns with SEPC’s existing capabilities in executing large-scale industrial and mining-related infrastructure works.
At the time of writing, SEPC had a market capitalisation of around Rs 1,802 crore, with the stock trading within a day range of Rs 9.73 to Rs 10.22.
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