DEE Development Engineers shares rose 3.53% to a day high of Rs 595 on 16 October after it signed a nuclear power pact with an EPC firm.

The company told exchanges around 11:41 am that it has signed a framework agreement with a domestic engineering, procurement and construction contractor, or EPC firm, which designs and builds large projects for their owners.

The pact is aimed at nuclear power work. DEE will act as the contractor’s strategic partner, helping with bids, design and engineering, and the making and supply of piping products.

It covers pipework for the reactor side and the turbine side of a plant, across ongoing and upcoming projects by public and private developers, including heavy water, light water and small modular reactors.

This is not an order. A framework agreement only sets the stage. Revenue depends on the EPC firm winning projects first, then both sides settling the final terms.

DEE has not named the EPC firm, citing commercial and confidentiality reasons.

A day earlier, on 15 October, the company said it had won an order worth about Rs 46 crore from a US-based EPC firm.

The job covers building equipment modules and the piping around them, with deliveries due by July 2027.

In the three months to 30 June, consolidated revenue rose 31.6% to Rs 294.5 crore, and profit after tax gained 22.4% to Rs 16.1 crore.

Its order book, the value of work yet to be delivered, stood at Rs 2,428 crore on 30 June, and Chairman and Managing Director K. L. Bansal has said the company targets core revenue of Rs 1,500 crore in FY27.

Even after today’s dip, the stock is up 110.60% over one year. Its 52-week high is Rs 760, set on 18 June.

At 13:27 pm, DEE Development Engineers shares are trading at Rs 568.05 on NSE, down Rs 6.65 or 1.16% from Thursday’s close of Rs 574.70.

The stock opened at Rs 578, spiked to Rs 595 in late morning and has dipped as low as Rs 556.60.

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