SEPC Ltd.'s share price rose to the highest level since late March as its United Arab Emirate-based wholly-owned subsidiary received an order worth Rs 75.6 core.
SEPC FZE, Sharjah received the order on Tuesday from Lauren Engineers & Constructors INC for construction, supply, and installation of four units with 45,000 liter capacity steel tanks.
The order value is estimated to be around $8.9 million, or approximately Rs 75.6 crore, according to an exchange filing. SEPC FZE, Sharjah will complete the order in 15 months.
SEPC Share Price Today
Following the news of the subsidiary's order win, SEPC's share price surged 10.08% to Rs 15.37 apiece. It pared gains to trade 7.21% higher at Rs 15.31 apiece as of 11:12 a.m., as compared to 0.24% decline in the NSE Nifty 50.
The scrip declined 15.38% in 12 months, and 28.06% on year-to-date basis. Total traded volume so far in the day stood at 3.7 times its 30-day average. The relative strength index was at 65.51.
SEPC's 50-day moving average is 14.73.
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