Stock below Rs 15: This small-cap company emerges as the Lowest Bidder (L1) for new orders worth Rs 15,676.24 million!

Today, shares of the company saw a spurt in volume by more than 13.80 times on BSE.  

Patel Engineering Ltd recently emerged as the Lowest Bidder (L1) for new orders worth Rs 15,676.24 million which will be executed in joint ventures, to be completed in a period of 36 months. The company’s share for all the orders is Rs 10,090.56 million which are as follows:  

Project No - 1: Rihand Micro Irrigation Project by Department of Water Resources, Madhya Pradesh. The cost incurred by the company for this project is Rs 5,120.47 million.  

Project No - 2:  Krishna Marathwada Irrigation Project - Lift Irrigation Scheme 01 – By Water Resources Department, Government of Maharashtra. The cost incurred by the company for this project is Rs 3,373.34 million.  

Project No - 3:  Krishna Marathwada Irrigation Project - Lift Irrigation Scheme 02 – By Water Resources Department, Government of Maharashtra. The cost incurred by the company for this project is Rs 1,596.75 million.  

Today, shares of the company surged 3.14 per cent to an intraday high of Rs 14.80 per share. The shares ended the day negative, joindown 3.48 per cent to Rs 13.85 per share.    

Patel Engineering Ltd is engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures and other kinds of heavy civil engineering works. Today, shares of the company saw a spurt in volume by more than 13.80 times on BSE.  

Talking about the financials, this firm has a market cap of Rs 1,076 crore with a low PE of 7.11 per cent. The company reported excellent numbers in both Quarterly Results and annual results. Investors should keep an eye on this Small-Cap stock.