Small Cap Company Bags Order From ONGC, Shares Gain Over 6% Intraday

Small cap company operating in the waste management industry EP Biocomposites Ltd share witnessed a rally of more than 6% intraday after it received a work order worth nearly 72.28 lakhs from State-controlled Oil and Natural Gas Corporation (ONGC). Maharatna ONGC is the largest crude oil and natural gas Company in India, contributing around 71 per cent to Indian domestic production. Last trading price of EP Biocomposites share BSE is Rs 203.85 apiece. EP Biocomposites shares rallied over 7% in last 2-weeks. Check details below:

EP Biocomposites Receives Work Order From Maharatna ONGC: According to the BSE filing of the company dated November 29, 2023, "we write to intimate you that the Company has received an order for design, supply, installation, testing and commissioning of sewage treatment plant (STP) of 100 KLD capacity (MBR based) including civil and electrification work with all necessary utilities from Oil and Natural Gas Corporation Limited. The order value is INR 72,27,759.60. The prestigious order represents around 10% of the entire turnover from the previous financial year 2022-23 and is proposed to be completed within financial year 2023-24."

EP Biocomposites Stock Performance & Return: Last trading price of EP Biocomposites share BSE is Rs 203.95 apiece. Its 52-week high price is Rs 264.00 per share and 52-week low price is Rs 162.55 apiece, respectively. The company has a market capitalisation of Rs 34.29 crore. EP Biocomposites shares declined 11.25% in last 3-months, gained 2.28% year-to-date, and soared over 5% in last 1-year.

EP Biocomposites Financials: The company for the quarter ended September 2023 declared its revenue from operations at 439.87 crore as against Rs 345.24 crore in the corresponding quarter of last year. Its total income declared at Rs 448.69 crore for the quarter under review as compared to Rs 348.61 core announced in September 2022.

Disclaimer:

The stock just highlights the rally in shares after order from ONGC and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.