Turnkey solutions provider Shriram EPC climbed as much as 20 percent intraday after the company in a joint venture with the Mokul Group of companies received an order worth Iraqi Dinars 275 billion (approximately 230 million) for the supply and laying of basic sanitary systems in Basra, Iraq.
The company will oversee the laying of approximately 240 kms of sewer pipe line, 160 kms of storm pipe line and 8 kms of trunk sewer pipe line along with road works in the area. The project is scheduled for completion in 3 years.
T Shivaraman, Managing Director and CEO of Shriram EPC said, "This order adds to our healthy order backlog of Rs 2,923 crore as at the end of September 2012."
At 14:55 hours IST, the stock rose 13.25 percent to Rs 78.20 amid large volumes on the Bombay Stock Exchange.
Trading volumes surged significantly to 54,396 equity shares as compared to its five day average of 1,995 shares. Market capitalisation of the company currently stands at Rs 346.81 crore.
Shriram EPC stock price
On November 24, 2015, Shriram EPC closed at Rs 30.75, down Rs 0.05, or 0.16 percent. The 52-week high of the share was Rs 47.00 and the 52-week low was Rs 27.00.
The latest book value of the company is Rs -1.77 per share. At current value, the price-to-book value of the company was -17.37.
READ MORE ON Shriram EPC
Set email alert for
ADS BY GOOGLE
video of the day
Nifty to fall below 7500 if Q3 disappoints; GST key: Kumar