Shriram EPC surged 9.43% to Rs 26.10 at 9:35 IST on BSE after the company announced that it has won multiple orders under its water management business amounting to Rs 165 crore.
The announcement was made after market hours yesterday, 22 June 2017.Meanwhile, the S&P BSE Sensex was down 28.18 points or 0.09% at 31,262.56. The S&P BSE Small-Cap index was down 36.05 points or 0.23% at 15,573.44.
Higher than usual volumes were witnessed on the counter. On the BSE, 66,551 shares were traded on the counter so far as against the average daily volumes of 38,802 shares in the past one quarter. The stock had hit a high of Rs 26.95 and a low of Rs 25.80 so far during the day.
The stock had hit a 52-week high of Rs 40.80 on 7 November 2016 and a 52-week low of Rs 20.55 on 16 August 2016.
The stock had underperformed the market over the past one month till 22 June 2017, falling 9.66% compared with Sensex's 2.35% gains. The scrip had also underperformed the market in past one quarter, dropping 10.34% as against Sensex's 7.28% rise. The scrip had also underperformed the market in past one year, gaining 3.7% as against Sensex's 16.91% rise.
The small-cap company has equity capital of Rs 939.38 crore. Face value per share is Rs 10.
Shriram EPC said that the first order amounting to Rs 83.37 crore from City Corporation Davanagere, involves designing, building and improving bulk water supply for 24X7 water supply to Davanagere city and operation & maintainenece (O&M) of the bulk water supply scheme for 3 months. The Asian Development Bank (ADB) funded project is to be executed over a period of 30 months with 3 months for O&M.
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The second order amounting to Rs 82.56 crore from Tamil Nadu Water Supply & Drainage Board (TWAD Board) entails implementation of water supply scheme in Hosur Municipal Corporation, Krishnagiri district. The order is to be executed over a period of 24 months.
Shriram EPC reported net loss of Rs 65.49 crore in Q4 March 2017 compared with net loss of Rs 198.28 crore in Q4 March 2016. Net sales rose 51.6% to Rs 211.80 crore in Q4 March 2017 over Q4 March 2016.
Shriram EPC offers design, engineering, procurement, construction and project management services for infrastructure projects.
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