SEPC share price slumps over 7% amid profit booking. What lies ahead?

SEPC share price fell more than 7% during Friday's trading amid weakness in the Indian stock market following the flare-up in tensions in the Middle East that sent the crude oil prices 13% higher. Investors also booked profits in SEPC shares after a sharp rally in the company's shares a day ago.

The company has attracted attention over the last few sessions because of new order wins and the announcement of a rights issue. On Thursday, the SEPC share price had rallied almost 10%.

SEPC share price today opened at ₹14.10 apiece on the BSE. It touched an intraday high of ₹14.11 per share and an intraday low of ₹13.18 apiece.

Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, said that SEPC share price is in a consolidation phase, with 12 acting as support and 16 acting as resistance. “In the last few sessions, SEPC share price has seen some resistance at higher levels and heavy volumes on the news of the rights issue. Overall, the stock is placed at strong support of the 200-week moving average, and above 16, we may see strong traction,” he added.

Recently, SEPC entered the green energy sector by securing a substantial work order valued at ₹650 crore from Parmeshi Urja Ltd, located in Kolkata, West Bengal. This project represents a crucial advancement in enhancing SEPC's footprint in India's renewable energy market.

Additionally, the engineering solutions provider has obtained a ₹650-crore contract to establish solar capacities amounting to 133 MW in Maharashtra. The company has received a letter of award from Parmeshi Urja Ltd, Kolkata, for EPC solar power initiatives across 26 sites in four districts of Maharashtra, it stated in a release.

Q4 results

SEPC reported a standalone net profit increase of 57.76% to ₹10.16 crore in the March quarter, driven by a decrease in expenses. In the corresponding quarter of the previous 2023-24 financial year, it recorded a net profit of ₹6.44 crore, according to the company’s filing with the exchange.

The company’s revenue for the January-March FY25 period was ₹117.80 crore, compared to ₹147.82 crore during the same period last year. SEPC managed to reduce its expenses to ₹115.94 crore from ₹155.31 crore in the same quarter a year earlier.

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