Moneycontrol
Oct 13, 2017 11:49 AM IST | Source: Moneycontrol.com

Shriram EPC gains 20% on bagging multiple orders of Rs 349 cr

The first order amounting to Rs 311 crore from Bihar Urban Infrastructure Development Corporation involves improvement of water supply system in Gaya Municipal Corporation, the company said in its filing.

 
 
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Shriram EPC share price rallied 20 percent intraday Friday on the back of receiving multiple orders worth Rs 349 crore.

The first order amounting to Rs 311 crore from Bihar Urban Infrastructure Development Corporation involves improvement of water supply system in Gaya Municipal Corporation, the company said in its filing.

The Asian Development Bank funded project is to be executed over a period of 42 months, with operations and maintenance period of 3 years, it added.

The second order worth Rs 38 crore received from Karnataka Urban Infrastructure Development and Finance Corporation, which entails construction of pipeline, overhead tank and distribution network of 24*7 water supply system at Byadgi along with operations and maintenance.

This project is also funded by Asian Development Bank, which will be executed over a period of 24 months while the operation & maintenance component extends up to 8 years post completion.

"We have witnessed a steady flow of order wins across business verticals in recent times on the back of concerted efforts towards reviving core EPC business. These orders will further help us maintain business momentum," T Shivaraman, MD & CEO said.

At 11:32 hours IST, the stock price was quoting at Rs 22.40, up Rs 2.85, or 14.58 percent on the BSE.
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