Patel Engineering touches roof on getting LOA from CIDCO
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Patel Engineering is currently trading at its upper circuit limit of Rs. 27.22, up by 1.29 points or 4.97% from its previous closing of Rs. 25.93 on the BSE.
The scrip opened at Rs. 26.00 and has touched a high and low of Rs. 27.22 and Rs. 26.00 respectively. So far 787842 shares were traded on the counter.
The BSE group 'T' stock of face value Rs. 1 has touched a 52 week high of Rs. 29.70 on 18-May-2023 and a 52 week low of Rs. 13.10 on 27-Feb-2023.
Last one week high and low of the scrip stood at Rs. 27.22 and Rs. 25.50 respectively. The current market cap of the company is Rs. 2105.79 crore.
The promoters holding in the company stood at 39.41%, while Institutions and Non-Institutions held 11.30% and 49.29% respectively.
Patel Engineering has been awarded the Letter of Acceptance (LOA) from City and Industrial Development Corporation (CIDCO) for the construction of a 6.70 km long treated water tunnel and associated works from Sai Village to Vindhane Village in Raigad District, Maharashtra. The water tunnel project worth Rs 519.50 crore is going to be executed without any joint venture partnership.
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.
