Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; Vijay Kedia raises stake in June quarter!

In Q4FY23, the company reported a 147.04 per cent increase in net profit YoY.

Shares of Patel Engineering Limited were locked in the upper circuit on Thursday, gaining 5.00 per cent. The stock also made a fresh 52-week high of Rs 43.20. In the last six months, the stock has gained about 160 per cent.

Vijay Kedia, an Indian ace investor has increased his stake in the company from 1.29 per cent of the company to 1.68 per cent share of the company.

The company posted impressive Quarterly Results. 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.

Shares of Patel Engineering Limited have also delivered multibagger returns to its shareholders in just six months of about 160 per cent. While in the last one year the stock has gained more than about 110 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 shown tremendous growth, and investors should keep a close eye on this stock.