Patel Engineering trades jubilantly on the buzz of forming JV with Kanakia Spaces

Patel Engineering Ltd. | Engineering - Construction | Construction & Infrastructure | BSE: 531120 | NSE: PATELENG

07 Apr 2014 Evaluate

Patel Engineering is currently trading at Rs. 69.00, up by 2.85 points or 4.31% from its previous closing of Rs. 66.15 on the BSE.

The scrip opened at Rs. 69.85 and has touched a high and low of Rs. 69.85 and Rs. 67.10 respectively. So far 178349 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 69.85 on 07-Apr-2014 and a 52 week low of Rs. 27.00 on 06-Aug-2013.

Last one week high and low of the scrip stood at Rs. 69.85 and Rs. 58.80 respectively. The current market cap of the company is Rs. 526.85 crore.

The promoters holding in the company stood at 45.69% while Institutions and Non-Institutions held 6.70% and 47.61% respectively.

Patel Engineering has reportedly formed a joint venture (JV) with Kanakia Spaces the real estate arm of Kanakia group. JV is formed in order to develop a 16-acre property in Bandra, Mumbai, owned by the company. The company will hold a majority stake in the venture. Kanakia will infuse Rs 210 crore as its own consideration. The total saleable area for the property works out to be about 7 lakh square feet. The real estate firm Kanakia will develop a mix of residential and commercial properties.

Patel Engineering provides a wide range of civil engineering services involved in design and construction of power projects, hydroelectric projects, commercial building, industrial complexes, dams, tunnels, underground structures, steel and concrete structures, bridges, marine works, flyovers and national highways in India and abroad.

Patel Engineering Share Price

34.07 -0.35 (-1.02%)

03-Jul-2026 16:59 View Price Chart

Peers

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