Patel Engineering zooms after securing contract worth Rs 1,318.89 crore from CIDCO
Patel Engineering is currently trading at Rs 44.56, up by 1.55 points or 3.60% from its previous closing of Rs 43.01 on the BSE.
The scrip opened at Rs 44.56 and has touched a high and low of Rs 44.78 and Rs 43.43 respectively. So far 3376 shares were traded on the counter.
The BSE group 'A' stock of face value Rs 1 has touched a 52-week high of Rs 74.38 on 19-Jun-2024 and a 52-week low of Rs 33.65 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs 44.78 and Rs 42.00 respectively. The current market cap of the company is Rs 3631.66 crore.
The promoters holding in the company stood at 36.11%, while Institutions and Non-Institutions held 9.69% and 54.19% respectively.
Patel Engineering has secured contract valued at Rs 1,318.89 crore from City & Industrial Development Corporation of Maharashtra (CIDCO) for the construction of the Kondhane Dam and its allied works using Roller Compacted Concrete (RCC) Technology.
The company had earlier been declared the L1 (lowest bidder) for this project. The project is located in Village Kondhane, District Raigad in the state of Maharashtra, and is scheduled to be completed within 42 months. The scope of works includes Civil Works for the dam construction having a length of 1209m and 83m height along it’s allied works as well as Hydro Mechanical and Electrical works including 3 radial gates and electrical & manual gate control and other electrification works.
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.
