Shriram EPC to issue preferential shares to SBM

India Infoline News Service | Mumbai | January 22, 2017 08:25 IST

Shriram EPC Limited has given an intimation to NSE and BSE regarding the issuance of securities.

Shriram EPC Limited has given an intimation to NSE and BSE regarding the issuance of securities.
The company has proposed to issue 1,30,18,293 preferential equity shares to State Bank of Mysore.
State Bank of Mysore is not a promoter of the company.
Before the issue of preferential shares, State Bank of Mysore holds 3457914 equity shares which forms 0.43% of the holding.
After issuing of preference shares, the bank will hold 1,64,76,207 shares, which forms 2.03% of the holding.
The company’s revenue has declined in the quarter ended on September 30, 2016 by 15.2% as compared to the previous quarter.
Shriram EPC Limited is a provider of integrated design; engineering, procurement, construction; and project management services.
The Company operates through three segments: Contracts, Windmill and Trading.

Stock view:-

Shriram EPC Ltd ended at Rs 28.5, down by Rs 0.55 or 1.89% from its previous closing of Rs 29.05 on the BSE.

The scrip opened at Rs 29.05 and touched a high and low of Rs 29.05 and Rs 28.4 respectively. A total of 186451(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2232.99 crore.

The BSE group 'B' stock of face value Rs 10 touched a 52 week high of Rs 40.8 on 07-Nov-2016 and a 52 week low of Rs 19 on 08-Jun-2016. Last one week high and low of the scrip stood at Rs 30.95 and Rs 28.4 respectively.

The promoters holding in the company stood at 21.11 % while Institutions and Non-Institutions held 75.75 % and 3.13 % respectively.

The stock traded below its 50 DMA.

***Note: This is a NSE Chart



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