Stock under Rs 15: This small-cap company bags Rs 511.11 crore project!
The firm has a market cap of Rs 1,162 crore with a low PE of 11.04x.
On Wednesday, the benchmark Indian indices ended the day in green. BSE Sensex Index is up by 0.24 per cent at a level of 58,214.59 and the NSE Nifty-50 Index is up by 0.26 per cent at a level of 17,151.90.
Today, shares of Patel Engineering Ltd surged 3.57 per cent to an intraday high of Rs 15.39 per share. The shares ended the day in green, up 1.01 per cent to Rs 15.01 per share. The stock has a 52-week high of Rs 26.80 and a 52-week low of Rs 13.55.
Patel Engineering Limited, a civil construction company specialising in the hydropower and irrigation sector, today announced that the company along with the JV Partner has received a Letter of Acceptance for Tumkur Branch Canal (Package V) Micro Irrigation Project from Visvesvaraya Jala Nigama Limited (VJNL), which was declared as L1 earlier. Patel Engineering is a 51 per cent partner in the JV, the company’s share in the project is Rs 281.07 crore.
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.
Talking about the financials, this firm has a market cap of Rs 1,162 crore with a low PE of 11.04x. The company reported excellent numbers in both Quarterly Results and annual results. Investors should keep an eye on this Small-Cap stock.