Patel Engineering Ltd JV declared L1 for irrigation project of Rs. 342.76 crores

The Office of the Executive Engineer, Government of Maharashtra has declared Patel Engineering Limited (PEL) along with its JV Partner as L1 for a Rs. 342.76 crore contract for the works involving Construction of water lifting arrangement work for first stage from submergence of Jigaon project including Civil, Mechanical, Electrical component & allied works.

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

The said project is located in the state of Maharashtra and the project is to be executed in a Joint Venture, of which PEL's share is 35%.

The scope of work involves Construction of water lifting arrangement work for LIS 1-10-11-12,8, 9, 3 ,4-5-6 of first stage from submergence of Jigaon project including approach channel, Rising Main, Pumping Machinery, Switchyard and all allied works of Civil, Mechanical, Electrical component.

Shares of Patel Engineering Limited was last trading in BSE at Rs. 56.97 as compared to the previous close of Rs. 55.58. The total number of shares traded during the day was 1265545 in over 5499 trades.

The stock hit an intraday high of Rs. 58.00 and intraday low of 55.50. The net turnover during the day was Rs. 72163482.00.

Source : Equity Bulls

Keywords

PatelEngineering INE244B01030 L1 JV IrrigationProject