Patel Engineering JV receives LOA for Rs. 1275.30 crores order

Patel Engineering Limited, a civil construction Company specialized in the hydropower and irrigation sector, today announced that, the Company along with the JV Partner has received letter of award for Urban Infrastructure Development Project of Rs. 1,275.30 crores from Madhya Pradesh Jal Nigam, which was declared as L1 earlier.

The Company being 35% partner in the JV, our share in the project is Rs. 446.36 crores.

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.

Shares of Patel Engineering Limited was last trading in BSE at Rs. 55.58 as compared to the previous close of Rs. 56.49. The total number of shares traded during the day was 714052 in over 3878 trades.

The stock hit an intraday high of Rs. 57.90 and intraday low of 55.02. The net turnover during the day was Rs. 40230882.00.

Source : Equity Bulls

Keywords

PatelEngineering INE244B01030 LOA JV Order