Shares of this multibagger Vijay Kedia stock jumped 3 percent in Tuesday’s trading session after JV company received an order from NHPC Limited worth Rs 3,637.12 crores.
With a market capitalization of Rs 3,892.07 crores, the stocks of Patel Engineering Limited opened their trading hour on Tuesday at Rs 50.89 and currently trades at Rs 51, gaining around 3 percent as compared to the previous closing levels of Rs 49.23 apiece.
The company, through a recent filing with the BSE, announced that “M/s Dibang Power”, a consortium between Patel Engineering Limited and G R Infraprojects Limited, has received an order from NHPC Limited worth Rs 3,637.12 crores.
The order pertains to the construction of civil works for head race Tunne including intake, penstocks, pressure shafts, etc for the Dibang Multipurpose Project in Arunachal Pradesh.
Keeping a purview of just six months, the company’s stock has delivered multibagger returns of approximately 235 percent, i.e., if someone had invested Rs 1 lakh in the stock six months back, it would have converted to Rs 3.35 lakhs.
Mr. Vijay Kedia, one of the well-known ace investors based in India, has invested in the company’s shares through his firm named “Kedia Securities Private Limited”. He took an entry into the company’s stock in March 2023 and, currently, holds 1.30 crore equity shares equating to a 1.68 percent stake in the company.
Digging into the annual financials of the company, the basic financial parameters such as the operating revenues as well as the net profits have seen positive movements with the former increasing from Rs 3,397.45 crores during FY21-22 to Rs 4,027.57 crores during FY22-23, and, the latter, during the same time horizon, moving up from Rs 68.88 crores to Rs 178.8 crores.
The shareholding pattern data, according to the June 2023 quarter, showcases the company’s Promoters holding a 39.41 percent stake, and the Foreign Institutional Investors (FIIs) holding a 2.38 percent stake in the company.
Patel Engineering Limited is engaged in the business of undertaking civil construction as well as engineering projects. The company’s business segments include engineering procurement and construction (EPC) & real estate.
It caters to all the sectors of the infrastructure industry ranging from the construction of dams, hydroelectric projects, to real estate, townships, etc.
Written by Amit Madnani
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