Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; hits fresh 52-week high!

The stock has gained more than 150 per cent in the last six months.

Shares of Patel Engineering Limited were locked in the upper circuit on Monday, gaining 5.00 per cent. The stock also made a fresh 52-week high of Rs 47.90. In the last six months, the stock has gained about 190 per cent.

Patel Engineering Ltd is engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures, and other kinds of heavy civil engineering works in areas like hydro, irrigation & water supply, urban infrastructure, and transport.

The stock has been in a rally since, Vijay Kedia, an Indian ace investor increased his stake in the company from 1.29 per cent of the company to 1.68 per cent share of the company.

Shares of Patel Engineering Limited have also delivered multibagger returns to its shareholders in just six months of about 190 per cent. While in the last one year the stock has gained more than about 130 per cent.

The company posted impressive Quarterly Results (Q4FY23). The revenue of the company stood at Rs 1298.03 crore which grew by 16.77 per cent YoY. The operating profit of the company stood at Rs 208.72 crore, while the PAT of the company stood at Rs 82.96 crore, representing an impressive growth of 147.04 per cent YoY. The company has an order book of Rs 20,000 crore.

On Monday, the stock opened at Rs 47.87, with a high and low of Rs 47.90 and Rs 47.00. The stock closed at Rs 47.90, up by 5.00 per cent over its previous close of Rs 45.62. 

The article is for informational purposes only and not investment advice.