Shriram EPC shares advanced as much as 14 per cent in early trade on Monday after the company informed bourses that it has been awarded contract of over Rs 61 crore from K.U.W.S. & D. Board (KUWSD), Bengaluru for providing water supply scheme to Robertsonpet (KGF) City under AMRUT. The company will establish reverse osmosis filters and accessories in all wards in the city, provide distribution network from water treatment plant and maintenance for five years. The project is to be executed over a period of 36 months.
At 10.28 am, shares of the company were trading 10.06 per cent up at Rs 26.25. The scrip opened the day at Rs 26.50 and had touched a high and low of Rs 27.20 and Rs 25.90, respectively, in trade so far. Benchmark BSE Sensex was trading 220.31 points, or 0.80 per cent, up at 27,749.61.
In the past one year, shares of the company have risen 2.04 per cent to Rs 1009 till October 17, whereas BSE Sensex gained 0.60 per cent during the same period. During the period, the BSE group ‘B’ stock of face value Rs 10 has touched a 52-week high of Rs 38.55 on January 6, 2016 and 52-week low of Rs 19.00 on June 8, 2016.
Promoters hold 50.03 per cent stake in the company, while institutions and non-institutions held 42.53 per cent and 7.44 per cent respectively.
Shriram EPC is a service provider of the integrated designs, engineering, procurement, construction and project management services for power plants, renewable energy projects, process and metallurgical plants and municipal service sector projects throughout India and overseas.