Shares of SEPC Ltd., previously known as Shriram EPC, surged over 18% on Friday following the receipt of a Final Acceptance Certificate from The Hutti Gold Mines Limited for a 2013 contract. This certificate signifies satisfactory completion of the project, boosting investor confidence.
The contract, valued at ₹232 crore, involved constructing a new circular shaft with complete winding installations on a turnkey basis at Hutti in Raichur District, Karnataka. Awarded in 2013, the project’s successful completion has significantly impacted SEPC’s market presence.
The certificate, received on August 23, confirms that all installed systems, including electrical and mechanical equipment, and PLC systems, tested with 11 KV grid power, met the required standards. Additional tests with diesel generator power also showed satisfactory results.
Additionally, the certificate indicated the completion of the one-year warranty period as stipulated in the contract terms. This milestone follows closely after SEPC’s subsidiary, Shriram EPC FZE, secured a substantial ₹2,700 crore contract on August 12 for a cement project in Uzbekistan.
SEPC share price climbed to ₹25.45, marking a 17.7% increase and bringing its yearly gain to 25%. This growth has propelled the stock to its highest level in six months, reflecting robust market approval of the company’s recent achievements and future potential.
