Penny stock: This small-cap civil construction company wins order worth Rs 232 crore from a gold mining company!
Shares of the company have gained more than 20 per cent in last 6 months.
On April 12, 2023, Sepc Limited informed in the exchange filing that the company has received a commissioning certificate from The Hutti Gold Mines Company Limited (HGML) for the construction of new circular shaft with complete winding installation on a turnkey basis in Hutti, Raichur district, Karnataka.
HGML is a Government of Karnataka Undertaking and the sole producer of primary gold in India. This project has resulted in a significant increase in production capacity at HGML. As a result, SEPC is now eligible and can undertake projects for deep mining installations for a variety of metals, including chromium, zinc, uranium, manganese, copper and silver.
The project will also include the supply of double drum winder, friction winder, electro mechanical equipment, instrumentation, and control systems. The task will involve erecting, testing, and commissioning man hoisting and ore hoisting systems to extract gold. The total cost of the contract is Rs 232 crores.
Shriram EPC Ltd (SPEC) is a leading service provider of integrated design, engineering, procurement, construction, and project management services for water and waste-water treatment plants, water infrastructure, process and metallurgy plants, power plants, and mines and mineral processing.
Today, the stock opened at Rs 10.10, with a high and low of Rs 10.48 and Rs 10.10. Currently, the stock is trading at Rs 10.24, up by 0.10 per cent.