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Stock Report
Patel Engineering JV declared L1 for project worth Rs. 1275.30 crores
Posted On : 2023-08-22 17:43:12( TIMEZONE : IST )
Madhya Pradesh Jal Nigam, Govt. of Madhya Pradesh Undertaking has declared a Mumbai based infrastructure company, Patel Engineering Limited ("Company" or "PEL") as L1 in a Joint Venture for Rs. 1,275.30 crore contract for the works involving Engineering, Procurement, Construction, Testing, Commissioning, Trial Run and Operation & Maintenance for 10 Years of Narmada-Gambhir, District Ujjain & Indore Multi-Village Drinking Water Supply Scheme in a Single Package on 'Turn-key Job Basis'.
The project is to be completed in a period of 24 months and further operations and maintenance for the whole scheme to be carried out for a period of 10 years.
The said project is located in Ujjain and Indore, Madhya Pradesh and the project is to be executed in a Joint Venture, of which PEL's share is 35%, i.e. Rs. 446.36 crore.
Mr Rupen Patel, Chairman and Managing Director, Patel Engineering Limited said, "The Narmada-Gambhir Drinking Water Supply Project would help in solving the shortage of water supply in various villages in the districts of Ujjain and Indore. The project comprises of various activities including construction of intake well cum pump house, construction of RCC approach bridge, laying of water pipelines, construction of water treatment plant, construction of RCC overhead service reservoirs at different villages, more than 50,000 house service connections as well as Design, Supply, Delivery, Erection, Testing, & Commissioning of Automation Components for Monitoring & Maintenance with GPRS Communication with all necessary accessories (SCADA) etc. We are thrilled to be part of this project in providing water supply to several households in the state of Madhya Pradesh."
Shares of Patel Engineering Limited was last trading in BSE at Rs. 55.43 as compared to the previous close of Rs. 56.11. The total number of shares traded during the day was 1859074 in over 10475 trades.
The stock hit an intraday high of Rs. 58.54 and intraday low of 54.86. The net turnover during the day was Rs. 106271575.00.
