Shriram EPC stock soars by 7 % after winning order worth Rs 71 crore

Shriram EPC Limited, a holding company, on July 6,2017, rallied 7.39 per cent to Rs 26.15 at 1108 hours on the BSE, after the company has bagged an order valued Rs 71 crore from the Arulmigu Dandayathupani temple located at Palani in Tamil Nadu.

The scope of this transportation project order includes design, manufacture, supply, erection, testing, commissioning, operating and maintenance of the second ropeway. Currently, the handling capacity of the existing ropeway was about 300 passengers per hour while after the implementation of this second ropeway  it would be able to serve 1,200 persons per hour.

Due to the continuous increase in number of the pilgrims for the temple, it is needed to upgrade the access infrastructure at the temple.

The company has posted a net loss of Rs 65.49 crore in fourth quarter ended March 2017 against the net loss of Rs 198.28 crore in the last quarter ended March2016. However, its net sales rose 51.6 per cent to Rs 211,80 crore in quarter ended March 2017 compared with the corresponding quarter last year.

Shriram EPC  on Thursday opened at Rs 27 while on Wednesday is closed at Rs 24.35.  The company touched its intraday high at Rs 27.30 while low at Rs 25.85. Its 52-week high and low was Rs 40.80 and Rs 20.55 respectively.