SEPC, formerly known as Shriram EPC Ltd., saw its shares skyrocket to a record high on Monday after securing a lucrative contract worth Rs 232 crore from Hutti Gold Mines Ltd. The company’s shares surged 7.8% to a lifetime high of Rs 27.5 apiece on the NSE, before settling at Rs 26.39, a 3.5% gain, as of 10:59 a.m.
The contract, awarded for building a new circular shaft with winding installations at Hutti Gold Mines’ Raichur District site in Karnataka, was completed with a one-year warranty period. The final acceptance certificate from Hutti Gold Mines Ltd. was received by SEPC Ltd. on August 22, 2024, confirming the successful testing of all electrical, mechanical equipment, and systems.
This significant win has propelled SEPC Ltd.’s shares to new heights, with a 94% rise in the last 12 months and a 35% gain year-to-date. The stock’s trading volume has also seen a remarkable increase, standing at 9.9 times its 30-day average. The relative strength index currently stands at 73, indicating a strong uptrend.
