Economy

Shriram EPC Surges 14% On Bagging Order Worth Over Rs. 61 Crore

Shriram EPC Surges 14% On Bagging Order Worth Over Rs 61 Crore
Shriram EPC shares surged as much as 14 per cent to hit intraday high of Rs. 27 after the company announced that it has bagged orders worth over Rs. 61 crore from Karnataka Water Authority.

Chennai-based engineering company Shriram EPC said, “It has been awarded contract of over Rs. 61 crore from K.U.W.S. & D. Board (KUWSD), Bengaluru for providing water supply scheme to Robertsonpet (KGF) City under AMRUT.”

The project will be executed over a period of 36 months, Shriram EPC said.

Commenting on the order, T. Shivaraman, MD and CEO of Shriram EPC said, “We are pleased to announce the recent order win which not only validates our competitive offerings but also help us maintain the strong order momentum of late. The municipal services business which is shaping up well will be further bolstered by this order win.”

In the quarter ended June 2016, Shriram EPC had reported a net loss of Rs. 41.84 crore.

As of 11:31 a.m., Shriram EPC traded 12.66 per cent higher at Rs. 26.70, outperforming the Nifty which was up 0.8 per cent.

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