Shriram EPC soars 14% on bagging Rs 61 crore order

NEW DELHI: Shares of Shriram EPC saw a 14 per cent spurt in Tuesday’s trade after the company informed BSE about a Rs 61 crore contract that it bagged for a water supply scheme in Bangalore. The company told BSE that Shriram EPC had received the order from KUWS&D Board (KUWSD), Bangalore, for providing water supply scheme to Robertsonpet (KGF) City under AMRUT.

The scope of work includes providing water supply scheme to Robertsonpet (KGF) City under AMRUT, the company said, adding that the whole project will be executed in over 36 months.

The company had reported a net loss of Rs 41.84 crore in June quarter, which was wider than a net loss of Rs 2.79 crore reported for the year-ago quarter. Net sales for June quarter declined 37.6 per cent YoY to Rs 94.45 crore.

On Tuesday, the stock rose 14.04 per cent to hit a high of Rs 27.20 on BSE. The company said its municipal services business was doing well and it was positive on the future prospects.