Patel Engineering Share Price Soars by 1.7% to Rs. 63.55
On Wednesday’s trading session, Patel Engineering’s shares were trading at Rs. 63.55 with a 1.7% increase. The company’s share price has surged by 10% in just five days. Over the past year, investors in Patel Engineering have seen a whopping 320% return on their investment.
Steady Growth in Share Price
From trading at Rs. 14.95 on April 3, 2023, to reaching a high of Rs. 79 on February 6, 2024, Patel Engineering’s shares have shown strong growth. Currently, on Thursday, April 4, 2024, the stock was trading at Rs. 62.85, witnessing a slight decrease of 0.40%. The share price continued to decline on Friday, April 5, 2024, trading at Rs. 62.80 with a 0.73% decrease.
Impressive Performance Over the Years
Patel Engineering’s shares have seen significant ups and downs, with a strong rebound from January 2022 to February 2023. Despite a 50% decrease during this period, the stock has surged by 788% compared to its March 2020 price of Rs. 7.10.
Recent Projects and Investments
On March 2, 2024, the Telangana government ordered a joint venture of Patel Engineering to construct cement concrete security walls worth Rs. 267.93 crore. Additionally, the company was tasked with constructing pipeline distribution networks for the Neera Devghar Right Bank Canal from 66 km to 76 km and 77 km to 87 km at the beginning of January 2024.
Financial Overview
In the December quarter, Patel Engineering spent Rs. 87 crore and reported an order book size of Rs. 19,000 crore in its quarterly report for December 2023. Established in Mumbai in 1949, Patel Engineering Limited is a leading player in the field of architectural and engineering construction. The company has successfully completed various national highway, bridge, tunnel, dam, airport, and other infrastructure projects.
Disclaimer: This is News Coverage with Opinions of Experts and Should Not Be Taken as Direct Market Buying Tip. Market is always subject to risk. We recommend taking our content as research before investing.
