Rs 19,134 crore order book: Vijay Kedia-backed small-cap stock working on one of India’s largest hydropower projects; successfully inaugurated tunnel project!
Ace investor Vijay Kedia, holds 13,000,000 shares of the company. Keep an eye on this small-cap stock.
Monday witnessed a sea of red for the Indian markets, with the Sensex and Nifty ending down by 0.83 and 0.72 per cent, respectively. The market breadth also favored declines, and sell-offs were observed across the board.
One stock that has recently witnessed some interesting developments is Patel Engineering Ltd., a prominent provider of integrated infrastructure and construction services in India. As it enters its 75th year, the company is proud to announce the successful inauguration of the Sela Tunnel Project in Arunachal Pradesh, officiated by Prime Minister Shri. Narendra Modi. This milestone event marks a significant leap in India's strategic infrastructure development, enhancing all-weather connectivity and facilitating rapid troop mobility in the region.
The project is valued at Rs 650 crore and includes the construction of a main tunnel, T1, spanning a length of 1003m, and a main tunnel, T2, spanning a length of 1594m, with an escape tunnel of 1584m and a road spanning about 8.7 km. This project plays a crucial role in enhancing India’s strategic and economic interests in the northeastern region, particularly in the context of strengthening infrastructure at the border and efforts to develop remote areas for both security and development purposes.
Patel Engineering's selection for this project was based on its extensive experience and outstanding track record in managing intricate and large-scale projects. Known for being the preferred partner for critical projects of global significance, Patel Engineering's resilience and operational excellence shine through in the successful completion of the Sela Tunnel Project.
The Sela Pass Tunnel strategically epitomizes cutting-edge technology designed to surmount environmental, geographical, and geological challenges. This ambitious undertaking underscores India's commitment to narrowing the infrastructure gap and enhancing its strategic capabilities in the region. The tunnel project is a manifestation of India's significant advancements in recent years, overcoming hurdles to align with the scale of China's expansive infrastructure initiatives.
Patel Engineering is also currently working on one of India’s largest hydropower projects – Subansiri HEP of 2000 MW and recently was also awarded works for Dibang Multipurpose project having an installed capacity of 2880 MW.
The total order book of the company stands at Rs 19,134 crore as of December 2023. Interestingly, Kedia Securities Private Limited, headed by ace investor Vijay Kedia, holds 13,000,000 shares of the company. Keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.