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Patel Engineering trades jubilantly as its JV bags orders worth Rs 2,377 crore

23 May 2016 Evaluate

Patel Engineering is currently trading at Rs. 56.15, up by 5.75 points or 11.41% from its previous closing of Rs. 50.40 on the BSE.

The scrip opened at Rs. 55.80 and has touched a high and low of Rs. 58.45 and Rs. 55.65 respectively. So far 289181 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 86.40 on 15-Jul-2015 and a 52 week low of Rs. 48.45 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 58.45 and Rs. 50.05 respectively. The current market cap of the company is Rs. 431.27 crore.

The promoters holding in the company stood at 50.63% while Institutions and Non-Institutions held 4.87% and 36.65% respectively.

Patel Engineering’s JV - AGE-Patel has secured orders worth of Rs 2,377 crore from IRCON International. AGE-Patel is joint venture between the company and AGE Construction and Trading Inc, a Turkish company. The company’s share in the joint venture is 49%.

The company has bagged first contract for the construction of tunnel T-2 on Katra-Banihal section in Udhampur-Srinagar- Baramulla New BG railway line project at a total cost of Rs 654.61 crore. The company has secured second contract for the construction of tunnel T-15, part tunnel T-14 including bridge no. 61 on Katra-Banihal section in Udhampur-Srinagar- Baramulla New BG railway line project at a total cost of Rs 1722.24 crore . Both the aforementioned contracts are required to be completed within 36 months from the date of issue of LoA.

Patel Engineering provides a wide range of civil engineering services involved in design and construction of power projeccts, hydroeletric 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

27.68 -0.79 (-2.77%)
24-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
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NCC 162.00
KEC International 575.55
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