SEPC share price soars 14% following ₹2,200 crore deal with ROSHN Group for Saudi Infrastructure Projects

SEPC share price surged nearly 14% during Thursday’s trading session following the announcement of a deal with ROSHN Group Company, located in Riyadh, Kingdom of Saudi Arabia (KSA), for infrastructure projects valued at ₹2,200 crore in the Middle Eastern nation.

In a filing with the stock exchange, the entity previously recognised as Shriram EPC Ltd stated that the agreement is intended to facilitate the execution of infrastructure projects in Saudi Arabia, especially in Jeddah. As part of this agreement, SEPC has submitted a bid for infrastructure developments in three specific areas within Jeddah North, Phase 1A. The estimated value of the project is about SAR 893 million, which translates to roughly ₹2,200 crore.

This initiative is expected to play a significant role in advancing the region’s infrastructure, as Jeddah continues to develop and modernize, according to the company.

The framework agreement establishes the groundwork for the possible implementation of “Call-off Orders,” which are distinct work orders for the particular zones specified in the agreement.

SEPC Limited, previously known as Shriram EPC Limited, is part of the Shriram EPC Group and has a wide range of interests in Project Engineering and Construction. The company delivers comprehensive solutions to engineering challenges, offering multidisciplinary design, engineering, procurement, construction, and project management services.

SEPC emphasizes providing turnkey solutions for ferrous and non-ferrous metals, cement, aluminum, copper, thermal power plants, water treatment and transmission, renewable energy, cooling towers, and material handling. The company, in collaboration with joint operators, enters into contracts with clients to carry out the projects.

SEPC share price today

SEPC share price today opened at ₹15.94 apiece on the BSE, the stock touched an intraday high of ₹17.45 per share, and an intraday low of ₹15.65 apiece.

Anshul Jain, Head of Research at Lakshmishree Investment and Securities stated that SEPC share price corrected 64% over 25 weeks before forming a bullish hammer last week, signaling potential reversal. This week’s move appears to be a pullback, supported by rising volumes. Yesterday, volume surged over 750% against the 50-day average, driving a 19% rally.

Today’s upmove is backed by six times the average volume, reinforcing strength. The 50% retracement of the entire decline sits at 22.5, a key resistance level. Given the volume surge, this rebound could signal institutional accumulation, suggesting further upside potential if SEPC sustains momentum above supply zones.

Further, Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One added that SEPC share price has seen strong traction in this week, gaining around 20% from 200 wma, the strong formation indicates a resumption of uptrend and possibly prices moving towards 20 and above levels. immediate support is at 15.

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