Shriram EPC in the green

Shriram EPC is strongly in the green today, currently up over 5% at Rs.32.95, with an intra day high at Rs.34.75, though it is a far cry from the 52-week high of Rs.86. Volumes have spiked up by over 1 time.

The stock is up on the back of having won hefty orders to the tune of Rs.214 crore.  Of this, Rs.157 crore comes from BPCL for civil, structural and underground piping works of fluid catalytic cracking units for the Integrated Refinery Expansion Project (IREP) at Kochi refinery. The balance of Rs.57 crore came in from via two contracts from Municipal Corporation of Brihanmumbai (Sewerage Operations Department) for rehabilitation of underground sewers using trenchless technology with GRP liners.

This is good news for the company which did not end Q2FY14 on a good note. It had reported a net loss at Rs.41 crore on a 56% (YoY) decline in net sales at Rs.163 crore.