Vijay Kedia sold 1,20,00,000 shares & Rs 17,260.7 crore order book: Penny stock under Rs 55 in focus after announces robust results; PAT up by 151 per cent YoY
At the closing bell, shares of the company were trading at Rs 51.33 per share, up 1.91 per cent with a spurt in volume by more than 1.73 times on BSE.
On Thursday, shares of Patel Engineering Ltd gained 5.04 per cent to an intraday high of Rs 52.70 per share from its previous closing of Rs 50.17. The stock’s 52-week high is Rs 79 while its 52-week low of Rs 46.10. At the closing bell, shares of the company were trading at Rs 51.33 per share, up 1.91 per cent with a spurt in volume by more than 1.73 times on BSE.
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 company has a market cap of Rs 4,335 crore. Additionally, the company was declared lowest bidder for a Rs 240 crore hydropower project from NHPC Ltd at the Teesta-V Power Station in Sikkim, reinforcing its position in the hydropower sector and contributing to this quarter's strong performance.
According to Quarterly Results, net sales increased by 15 per cent to Rs 1,174.30 crore and net profit increased by 151 per cent to Rs 80.80 crore in Q2FY25 compared to Q2FY24. Looking at its half-yearly results, net sales increased by 6 per cent to Rs 2,276 crore and net profit increased by 83 per cent to Rs 12.89 crore in H1FY25 compared to H1FY24. In its annual results, the net sales increased by 16.8 per cent to Rs 44,544.1 crore and net profit increased by 110 per cent to Rs 301.6 crore in FY24 over FY23.
DSIJ’s 'Tiny Treasure' service recommends researched Small-Cap stocks with Inherent Growth Potential. If this interests you, do download the service details here.
Order book: As of September 30, 2024, the company’s order book stands at Rs 17,260.70 crore (Including L1 Orders). Segment-wise order book includes hydroelectric (63.45 per cent), irrigation (21.21 per cent), tunnel (10.46 per cent, road (1.78 per cent) and other (3.10 per cent).
An ace investor, Vijay Kedia sold 1,20,00,000 shares or 1.42 per cent stake in the company in September 2024. As of September 2024, 88.7 per cent of promoters’ stake is pledged. Investors should keep an eye on this penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.