SEPC Ltd.'s share price surged 15% during early trade on Wednesday after the company secured a mega deal in Saudi Arabia.
The civil construction firm announced a framework agreement with Riyadh-based ROSHN Group to carry out infrastructure works in the kingdom, according to an exchange filing.
SEPC has bid for infrastructure works in three zones of Jeddah North, Phase 1A for about SAR 893 million or nearly Rs 2,200 crore. Based on the signing of the framework agreement, orders can be expected for a minimum of one zone, out of the three, it said.
The company reported a topline of Rs 133 crore in the December quarter and a net profit of Rs 4.4 crore.
SEPC is focused on providing turnkey solutions in the process and metallurgy, water infrastructure, power and mining and mineral processing. Its major customers include Indian local government bodies, Tata Steel, SAIL and Jindal Steel and Power.
As per latest available data, SEPC has an order book of Rs 8,456 crore.
SEPC Share Price Up
SEPC share price advanced 15% intraday to Rs 14.72 apiece. The scrip was trading 12.4% higher by 10:30 a.m. The benchmark NSE Nifty 50 was down 0.25%.
The stock has fallen 20% in the last 12 months and 33% on a year-to-date basis. The total traded volume so far in the day stood at 7.6 times its 30-day average. The relative strength index was at 48.
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