Shares of Sepc Ltd, a penny stock trading under ₹10, surged 4% on the NSE during Thursday's session after the company secured a new order from Steel Authority of India Limited (SAIL). Sepc shares opened at ₹6.55, up from the previous close of ₹6.32, and touched an intraday high of ₹6.72 on August 6, according to livemint.com.
The price movement followed the announcement of the new order from SAIL, a major state-owned steel producer in India. This contract win is seen as a positive development for Sepc, which operates in the industrial sector. The stock's gain came despite a generally muted trend on Dalal Street, indicating investor confidence in the company's prospects tied to this deal.
The jump in Sepc's share price highlights the impact of securing orders from large public sector enterprises like SAIL on smaller companies. Penny stocks under ₹10 typically experience volatility, but a confirmed contract from a reputed client can provide a significant boost. This event underscores the importance of government-linked business in supporting smaller industrial firms within the Indian market.
Sepc's share price performance on August 6 reflects market reaction to the SAIL order, with the stock reaching ₹6.72 intraday. The company’s next financial disclosures will reveal the full impact of this contract on its revenue and operations, providing investors with clearer insights into its growth trajectory.