Shriram EPC soars on winning Rs 640-cr order

Shriram EPC has soared 12% at Rs 134 after the company said it has been awarded an order amounting to Rs 640 crore from Abhijeet Projects for a 50MW solar thermal power plant in the Jaisalmer district of Rajasthan.

“The scope of work includes the design, engineering, procurement, supply, erection, testing and commissioning for the entire project. The project is scheduled for completion in 20 months," the company said in a filing to the stock exchanges.

Meanwhile, a media report suggests that the company has tied up with an Israeli company for executing this order.

Abhijeet Projects is the special purpose vehicle of Corporate Ispat and Alloys Ltd, which won the 50 MW project through the bidding process under the Jawaharlal Nehru National Solar Mission.

The stock opened at Rs 127 and hit a high of Rs 140 on the NSE. A combined 70,000 shares have changed hands on the counter in opening deals.