SEPC up 5% on bagging Final Acceptance Certificate from Hutti Gold Mines

The uptick in SEPC share price came after the company announced that it has received the Final Acceptance Certificate from HGML for a contract worth Rs 232 crore.

SEPC shares gain: Shares of SEPC jumped as much as 4.85 per cent to hit an intraday high of Rs 22.67 per share on Friday, August 23, 2024. 

The uptick in SEPC share price came after the company announced that it has received the Final Acceptance Certificate from The Hutti Gold Mines Limited (HGML) for the contract agreement received in the year 2013 worth Rs 232 crore.

In an exchange filing, SEPC said, “We would like to inform that our company (SEPC) had received the Final Acceptance Certificate from The Hutti Gold Mines Limited (HGML) for the contract agreement received in the year 2013 (for a total Value of Rs 232 crore) for “construction of new circular shaft with complete winding installations” on turnkey basis at Hutti, Raichur district, Karnataka, India.”

SEPC confirmed that the Final Acceptance Certificate from HGML, received on August 22, 2024, verifies that the installed systems, including all electrical, mechanical equipment, instruments, DC/AC drives, and PLC systems, were tested with 11 KV grid power and Diesel Generator power, and met the required standards. 

The certificate also indicates the completion of the one-year warranty period stipulated in the contract.

Founded in June 2000 and formerly known as Shriram EPC Ltd until February 2021, SEPC was majority-owned by Mark AB after a Rs 350 crore infusion in September 2022. 

The company specialises in executing EPC contracts and offers integrated solutions in design, engineering, procurement, construction, and project management across water, process metallurgy, and infrastructure sectors.

The market capitalisation of SEPC is Rs 3,479.14 crore, according to Bombay Stock Exchange (BSE). The company falls under the BSE SmallCap category.

The 52-week high of the SEPC stock is Rs 26.73 per share while its 52-week low is Rs 11.88 per share. 

At 11:12 AM, shares of SEPC were trading 3.61 per cent higher at Rs 22.40 per share. In comparison, BSE Sensex was trading marginally (0.08 per cent) higher at 81,120.98 levels.