Heavy buying: Back-to-back upper circuit in this small-cap multibagger stock; with Rs 20,000 crore order book!
Shares of the company have gained more than 200 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 has gained about 200 per cent in the last six months. The stock is one of the Top Gainers in the BSE S&P BSE SmallCap Index.
Patel Engineering Limited has also delivered multibagger returns to its shareholders in the last one year. During this period, the company’s share price jumped from Rs 22.57 on August 08, 2022, to Rs 50.85 on August 07, 2023, an increase of about 134 per cent in one year holding period.
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 in 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.
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.
Disclaimer: The article is for informational purposes only and not investment advice.
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