Shriram EPC zooms 20% on Rs 349 crore order wins; retreats and ends lower

NEW DELHI: Shares of Shriram EPC shot up 20 per cent in Friday's early trade after the company said it has secured two orders aggregating Rs 349 crore. It eventually parred all gains to end the day 0.51 per cent lower.

The company made the announcement post market hours of Thursday.

Following the announcement, the stock rallied 19.95 per cent to hit a high of Rs 23.45 on BSE. However, it closed at Rs 19.45, down 0.51 per cent on BSE.

In the BSE filing, the company said it has received an order worth Rs 311 crore from Bihar Urban Infrastructure Development Corporation that involves improvement of water supply system in Gaya Municipal Corporation.

Besides, the company received an order amounting to Rs 38 crore from Karnataka Urban Infrastructure Development & Finance Corporation and entails construction of pipeline, overhead tank and distribution network at Byadgi along with operations and maintenance.

The company, which offers integrated design, engineering, procurement, construction and project management services for medium to large infrastructure projects in water & sewerage, renewable energy, process and metallurgical plants, reported marginal losses in the June quarter.