Patel Engineering shines on bagging orders worth Rs 2,400 crore

08 Aug 2018 Evaluate

Patel Engineering is currently trading at Rs. 50.05, up by 6.30 points or 14.40% from its previous closing of Rs. 43.75 on the BSE.

The scrip opened at Rs. 49.00 and has touched a high and low of Rs. 51.35 and Rs. 48.90 respectively. So far 153787 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 96.05 on 28-Nov-2017 and a 52 week low of Rs. 36.10 on 23-Jul-2018.

Last one week high and low of the scrip stood at Rs. 51.35 and Rs. 43.55 respectively. The current market cap of the company is Rs. 792.82 crore.

The promoters holding in the company stood at 20.74%, while Institutions and Non-Institutions held 55.54% and 23.72% respectively.

Patel Engineering has bagged two hydro Projects and a Tunnel Project. The company received an LOI from Tamil Nadu Generation and Distribution Corporation (TANGEDCO) for construction of Kundah Pumped Storage Hydro Electric Project (500 MW) near Ooty, costing Rs 667.63 crore. The Project is funded by Rural Electrification Corporation (REC).

The company also secured an order for ARUN-3 Hydro Electric Project (900 MW), Nepal. This Project is being executed by SJVN ARUN-3 Power Development, which is wholly owned subsidiary of Satluj Jalvidyut Nigam (PSU). The Civil work is divided into two lots, the company has been awarded LOT-2 where work includes construction of head race tunnel; underground power house, pressure shaft, surge shaft and other connected structures with contract value of Rs 1125.87 crore.

Besides, the company has received LOI from Municipal Corporation of Greater Mumbai (MCGM) for Construction of tunnel from Amar Mahal (Hedgwar Udyan) to Trombay Low Reservoir (TLLR) and further up to Trombay High Level Reservoir (THLR) -Contract AMT-II for a contract value of Rs 618.21 crore.

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

56.95 -0.35 (-0.61%)
28-Mar-2024 16:01 View Price Chart
Peers
Company Name CMP
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