 "SEPC share price jumps over 7% on order win worth ₹230 crore from MOIL")
SEPC share price today: SEPC share price jumped over 7 per cent intraday in Monday's session after fetching an order worth ₹230 crore from MOIL Limited.
The stock jumped 7.53 per cent to the day's high of ₹10.57, the highest level since December 17. SEPC share price rose for a second consecutive session. The stock was trading near its 50-day moving average of 10.36.
On the National Stock Exchange (NSE), SEPC has seen 33.9 million shares changing hands, compared to a two-week average volume of 32.68 million.
On a year-to-date basis, SEPC share price has decreased 51.72 per cent, compared to a 9.32 per cent advance in the NSE Nifty 50 index.
SEPC share price pared some gains from the day’s high and was trading 3.97 per cent higher at ₹10.22 in the noon session, as compared to 0.28 per cent decline in the NSE Nifty 50 index.
Why did the SEPC share price rise today?
SEPC share price extended gains during the second half of the session on Monday after the company informed the exchanges that it has won an order worth ₹230 crore from the MOIL Limited. The company received a Letter of Acceptance (LoA) from MOIL, a government undertaking for the design, construction and commissioning of a third vertical shaft at the Chikla Mine in Maharashtra.
SEPC won the project through a global tender process after emerging as the lowest bidder. For the domestic scope, the order value stands at ₹167.8 crore, the exchange filing said.
The scope of work includes complete turnkey execution, covering engineering, civil works, furnishing, and installation of equipment, SEPC said in the exchange filing. The project will strengthen mining infrastructure and operations efficiency at the Chikla Mine.
SEPC expressed confidence that the recent order will strengthen its presence in the mining infrastructure segment. The project also reflects the company’s ability to secure complex, high-value projects with long execution cycles.
The structure of the contract will help SEPC to have an efficient capital utilisation while contributing to a more predictable and resilient revenue pipeline.
SEPC is an engineering, procurement, and construction company that offers turnkey solutions across water and wastewater, roads, industrial infrastructure, and mining sectors. It specialises in the design, procurement, construction, and commissioning of large and complex infrastructure projects in the country.