Stock under Rs 15: This small-cap company emerges as the Lowest Bidder (L1) for new orders worth Rs 1,026 crore!

The firm has a market cap of Rs 1,076 crore with a low PE multiple of 6.83.

Today, shares of Patel Engineering Ltd surged 2.54 per cent to an intraday high of Rs 14.15 per share. The shares ended the day in green, up 0.36 per cent to Rs 13.85 per share. The stock has a 52-week high of Rs 26.80 and a 52-week low of Rs 13.55.  

Patel Engineering declared L1 for Water Tunnel Project and Micro Irrigation Project worth Rs. 1,026 crore from CIDCO, Visvesvaraya Jala Nigam Limited. The micro irrigation project with a total value of Rs. 470.67 crore is to be executed with a JV partner, of which PEL’s share in the new order is worth Rs 240.04 crore while the Water Tunnel Project worth Rs 555.83 crore is going to execute without any joint venture partnership.  

Also, the company has bagged multiple orders recently which include Rihand Micro Irrigation Project, Krishna Marathwada Irrigation Project and Krishna Marathwada Irrigation Project. Including the above order received, the company’s order book stands at Rs 18,600 crore which is scheduled to be completed in a period of 36 months.  

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.   

Talking about the financials, this firm has a market cap of Rs 1,076 crore with a low PE multiple of 6.83. The company reported excellent numbers in both Quarterly Results and annual results. Investors should keep an eye on this Small-Cap stock.