Multibagger penny stock under Rs 65: Vijay Kedia gains Rs 4,38,00,000 in this multibagger stock in just one day; order book at Rs 1,86,630 million!

Shares of the company gained more than 15 per cent in the last six months.

Shares of Patel Engineering Limited gained over 6 per cent today. The stock has witnessed heavy buying activity from investors in the last few days. Ace investor Vijay Kedia holds a 1.42 per cent stake in the company. The company reported robust Quarterly Results for Q4FY24, with revenue increasing by 11.46 per cent YoY to Rs 1343.18 crore. The operating profit and PAT grew by 38.35 per cent and 83.08 per cent YoY to Rs 268.76 crore and Rs 140.94 crore, respectively.

Ace investor Vijay Kedia made a killing today, gaining over Rs 4.38 crore in profit on his 1,20,00,000 shares in Patel Engineering, which soared by Rs 3.65 per share. The stock has also delivered multibagger returns of over 140 per cent in the past one year.

Recently, Patel Engineering Limited (PEL), along with its joint venture partner, has secured a water lifting arrangement project in Maharashtra worth Rs. 342.76 crore. This makes them the lowest bidder (L1) for the contract awarded by the Office of the Executive Engineer. PEL's share of the project is Rs. 119.97 crore, representing 35 per cent of the total value.

Patel Engineering Limited is a 74-year company established in the year 1949 and has a strong presence in tunnels and underground works for hydroelectric and dam projects. The company has a consistent track record in the execution of projects in the domestic and international arena. The company has an order book of Rs 1,86,630 million.

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.