SEPC stock soared 14% after the company secured a significant Framework Agreement with ROSHN Group in Riyadh, Saudi Arabia. This agreement positions SEPC to undertake major infrastructure projects in the Kingdom, boosting investor confidence.
SEPC has submitted bids for infrastructure development in three zones of Jeddah North, Phase 1A, valued at SAR 893 million (approx. INR 2,200 crores). The agreement enables SEPC to receive Call-off Orders, ensuring a minimum allocation of work in at least one zone.
In the exchange filing, the company shared, “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. INR 2200 crores). Based on signing of Framework Agreement, orders (Called – Call-off Orders) can be expected for a minimum of one zone, out of the three Zones.”
SEPC shares opened at Rs 12.90, reaching a high of Rs 14.72 and a low of Rs 12.78 during the session. The stock is currently near its 52-week low of Rs 12.02, significantly down from its 52-week high of Rs 33.45.
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