Pratham EPC Doubles Market Cap, Up 20% on ₹497 Crore Order

12 Apr 2024 , 08:13 PM

Pratham EPC Projects Limited’s shares shot up 20% and were trapped in the upper circuit after the company received an order for ₹497 Crore, more than treble its ₹241 Crore market capitalization.

In a regulatory statement on April 12, the business stated, “We are glad to inform that the company has been successfully awarded a work order exceeding the proposed work order amounting to ₹497 Crore from Sun Petro Chemicals.”

The order, according to the recently listed business, relates to an EPC contract for onshore or offshore crude oil pipelines in the Gulf of Khambhat and other Gujarati areas. The company made its stock market debut in March. Within the next 36 months, the project is anticipated to be finished.

On March 18, the stock debuted spectacularly, trading at ₹113.30 on the NSE SME platform, 51% above the issue price of ₹75.

Pratham EPC Projects Limited was founded in 2014 and offers services to Indian gas and oil utilities. It mostly handles activities like welding, testing, and commissioning for gas pipeline installations. Additionally, it specializes in a range of project management disciplines, such as commissioning, engineering, procurement, and construction.

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