Shares of Subsea Engineering & Projects Company (SEPC) surged 4% on the National Stock Exchange on Thursday, driven by the announcement of a new contract from state-owned steelmaker SAIL.
The stock opened at ₹6.55, up from the previous close of ₹6.32, as investors reacted to the order win.
The move came despite a generally subdued trend across Indian equities, highlighting the continued speculative interest in low-priced stocks.
This rally follows a pattern seen recently with other penny stocks, such as Aastha Spintex and A-1 Limited, which hit upper circuits amid broader market weakness.
The SAIL order provides a tangible catalyst for SEPC, a company operating in the niche subsea engineering sector, potentially improving its order book visibility.
Traders should monitor whether this momentum sustains or if the stock faces profit-booking pressure in the coming sessions.