Patel Engineering Ltd JV declared L1 for irrigation project worth Rs. 525.36 crores

Irrigation & CAD Department, Government of Telangana has declared Patel Engineering Limited (PEL) along with its JV Partner as L1 for a Rs. 525.36 crore contract for the works involving Construction of RCC Protection Wall along River Munneru on right side and left side flanks between Polepally and Prakashnagar in Khammam City, Khammam District.

The project is to be completed in a period of 24 months.

The said project is located in the state of Telangana and the project is to be executed in a Joint Venture, of which PEL's share is 51%.

The scope of work involves Construction of RCC Protection wall of 8.5 Km each on Right side and Left side of flanks along River Munneru between Polepally to Prakashnagar in Khammam City and Embankment of 2 Km each on either side of River Munneru near Nagarjuna sagar Left Bank Aqueduct in Khammam city.

Shares of Patel Engineering Limited was last trading in BSE at Rs. 71.55 as compared to the previous close of Rs. 68.13. The total number of shares traded during the day was 778069 in over 6149 trades.

The stock hit an intraday high of Rs. 73.31 and intraday low of 67.94. The net turnover during the day was Rs. 55559206.00.

Source : Equity Bulls

Keywords

PatelEngineering INE244B01030 JV L1 IrrigationProject