Stock under Rs 20: This small-cap company emerges as the Lowest Bidder (L1) for new order worth Rs 1,567 crore!
Including the above order received, the company’s order book stands at Rs 16,809 crore.
Today, shares of Patel Engineering Ltd surged 10.54 per cent to an intraday high of Rs 15.20 per share. The shares ended the day in green, up 4 per cent to Rs 14.30 per share.
Patel Engineering recently said that the company with its joint venture partners (JV) has been declared the lowest bidder (L1) for ₹1,567 crore projects in Madhya Pradesh and Maharashtra state. The Company’s share in these new orders is ₹1,006 crore.
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 16,809 crore which are 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. Today, shares of the company saw a spurt in volume by more than 2.80 times on BSE.
Talking about the financials, this firm has a market cap of Rs 1,076 crore with a low PE of 6.81 per cent. The company reported excellent numbers in both Quarterly Results and annual results. Investors should keep an eye on this Small-Cap stock.