Shriram EPC advanced 2.91% to Rs 33.55 at 11:53 IST on BSE after the company scheduled a board meeting on 18 December 2015 to consider and approve conversion of the working capital term loan into equity shares.
Meanwhile, the S&P BSE Sensex was down 28 points or 0.11% at 25,122.35
On BSE, so far 16,917 shares were traded in the counter as against average daily volume of 6,219 shares in the past one quarter.
The stock hit a high of Rs 34.95 and a low of Rs 32.90 so far during the day. The stock had hit a 52-week high of Rs 47 on 13 April 2015. The stock had hit a 52-week low of Rs 27 on 30 September 2015.
The stock had outperformed the market over the past one month till 14 December 2015, rising 9.58% compared with 1.8% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 10.51% as against Sensex's 2.73% decline.
The small-cap company has equity capital of Rs 275.57 crore. Face value per share is Rs 10.
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Shriram EPC announced that its board of directors would meet on 18 December 2015, to consider and approve conversion of the working capital term loan of the corporate debt restructuring (CDR) lenders into equity shares of the company. The company's board of directors would also consider infusion of equity capital by the promoters through preferential allotment.
Shriram EPC reported net loss of Rs 17.43 crore in Q2 September 2015, lower than net loss of Rs 70.54 crore in Q2 September 2014. Net sales fell 13.2% to Rs 103.44 crore in Q2 September 2015 over Q2 September 2014.
Shriram EPC offers design, engineering, procurement, construction and project management services for power plants.
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