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Shares of Shriram EPC rose 13 percent in the opening trade on Friday as it has bagged an orders worth Rs 166 crore.
The company has won multiple orders under its water management business amounting to Rs 165.93 crore.
It has bagged first order of Rs 83.37 crore from City Corporation Davanagere. The order includes, designing, building and improving bulk water supply for 24X7 water supply to Davanagere city and O&M of the bulk water supply scheme for 3 months.
The ADB funded project is to be executed over a period of 30 months with 3 months for O&M.
The second order is of Rs 82.56 crore received from Tamil Nadu Water Supply & Drainage Board (TWAD board), which includes implementation of water supply scheme in Hosur Muncipal Corporation, Krishnagiri district.
The said order is to be executed over a period of 24 months.
T Shivaraman, managing director and CEO of Shriram EPC said, "We expect further traction in the business as water management is one of government's focus areas."
At 09:25 hrs Shriram EPC was quoting at Rs 25.80, up Rs 1.95, or 8.18 percent on the BSE.
Posted by Rakesh Patil
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