SEPC Ltd., formerly known as Shriram EPC Limited, witnessed a significant rise in its share price on Friday, climbing by over 18% following a major corporate announcement. The company's stock reached a high of ₹25.45, extending its year-to-date gains to 25% and hitting its highest level in six months. This impressive surge comes in the wake of SEPC receiving the Final Acceptance Certificate (FAC) from The Hutti Gold Mines Limited.

Major Milestone: Final Acceptance Certificate

The FAC, received by SEPC on August 23, 2024, signifies the completion of a ₹232 crore contract with Hutti Gold Mines. This contract, awarded to SEPC in 2013, involved the construction of a new circular shaft equipped with complete winding installations. The project was based in Hutti, located in the Raichur District of Karnataka.

The Final Acceptance Certificate confirms that all systems installed under the contract, including electrical, mechanical equipment, instruments, DC/AC drives, and the PLC system, were rigorously tested and found to be satisfactory. The testing was conducted with both 11 KV grid power and diesel generator power, ensuring that all systems met the required standards. Furthermore, the FAC confirms that the one-year warranty period stipulated in the contract has also been successfully completed.

Recent Developments: Cement Project in Uzbekistan

In addition to the FAC, SEPC’s subsidiary, Shriram EPC FZE, recently secured a substantial order for a cement project worth over ₹2,700 crore from JV Ohongron Sement MS LLC in Tashkent, Republic of Uzbekistan. This project involves the construction of a greenfield cement plant with a capacity of 3 million tonnes per annum at Urgaz Village, Akhangaran District.

The scope of the project for SEPC’s subsidiary includes design, engineering, project management, civil works supply, erection, testing, and commissioning. The plant is expected to be operational within 30 months, marking a significant expansion of SEPC's project portfolio and international reach.

Company Overview and Stock Performance

SEPC Ltd., a prominent player in the engineering and infrastructure sector, provides comprehensive solutions for engineering challenges through its services in design, engineering, procurement, construction, and project management. The company's recent successes highlight its strong capabilities in managing large-scale and complex projects, which has positively impacted its stock performance.

The rise in SEPC’s share price reflects investor confidence following the completion of the Hutti Gold Mines project and the acquisition of the major cement project order in Uzbekistan. The company’s robust performance and successful project completions are expected to continue driving positive sentiment in the market.

Conclusion

The recent surge in SEPC Ltd.'s stock price underscores the market’s positive reaction to the company's successful completion of significant projects and new order wins. The receipt of the Final Acceptance Certificate from Hutti Gold Mines represents a major milestone for SEPC, affirming the company's capabilities and achievements in the engineering sector. As SEPC continues to secure and execute high-value projects, its market performance is likely to remain strong, reflecting its growing influence and success in the industry.

Also Read : Reliance Infra and Reliance Power Shares Plunge After SEBI Sanctions Against Anil Ambani

Check latest IPO Review & analysis, Live GMP today, Live Subscription Status Today, Share Price, Financial Information, latest IPO news, Upcoming IPO News before applying in the IPO. The Upcoming IPOs in this week and coming weeks are Indian Phosphate Limited. The current active IPO is Rapid Multimodal Limited, Resourceful Automobile Limited, Ideal Technoplast Industries Limited, QVC Exports Lmited, Orient Technologies Limited.

Join our Trading with CA Abhay Telegram Channel for regular Stock Market Trading and Investment Calls by CA Abhay Varn - SEBI Registered Research Analyst & Finance Saathi Telegram Channel for Regular Share Market, News & IPO Updates

Start your Stock Market Journey and Apply in IPO by Opening Free Demat Account in Choice Broking FinX & Upstox.