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HomeCURRENT AFFAIRSBUSINESSPatel Engineering: 400% Stock Returns, Soaring FII Interest, Mega Order Book -...

Patel Engineering: 400% Stock Returns, Soaring FII Interest, Mega Order Book – Is It a Buy?

Unveiling Patel Engineering: Stock's Meteoric Rise, FII Interest Surge, and Order Book Bonanza

Investors in Patel Engineering Ltd have witnessed an astounding surge in returns, with the stock delivering over 400% gains in the past year. This remarkable performance is further bolstered by positive indicators such as improving debtor days and increasing interest from Foreign Institutional Investors (FIIs). As the company’s order book remains robust and diversified, coupled with encouraging quarterly results, investors may find themselves drawn to Patel Engineering Ltd as a potential investment opportunity.

Weekly Stock Performance

Examining the weekly chart of Patel Engineering Ltd reveals a promising trend.

Patel Engineering Stock Weekly Chart Price
Patel Engineering Stock Weekly Chart Price

After a period of consolidation, the stock has exhibited significant momentum, nearing resistance levels around 80 rupees per share. This upward trajectory is reflective of the company’s strong performance and investor confidence, contributing to the impressive returns observed over the past year.

Order Book Strength

Patel Engineering Ltd boasts a formidable order book, standing at 20,000 crores as of August 2023. A breakdown of the orders indicates a well-diversified portfolio, with approximately 54% of projects sourced from Public Sector Undertakings (PSUs), around 26% from State governments, and the remainder from international clients. The company’s expertise spans various sectors, including hydroelectric, irrigation, tunnel construction, roads, and other heavy civil engineering projects, ensuring a stable revenue stream and growth prospects.

Quarterly Results FY2023

In the second quarter of the fiscal year 2023-2024, Patel Engineering Ltd demonstrated robust financial performance. The company recorded a notable 21.34% increase in revenue compared to the same period last year, reaching ₹1,046.10 crore. Additionally, net profits surged by 62.33%, totaling ₹37.66 crore. Although there was a slight decline in revenue and net profits on a quarterly basis, the overall profitability and net profit margins remained healthy, indicating resilience amidst market fluctuations.

About the Company

Patel Engineering Ltd is a prominent player in the construction industry, specializing in a wide array of heavy civil engineering projects. From dams and bridges to tunnels and roads, the company has established itself as a reliable partner in executing complex infrastructure projects. With a focus on hydro, irrigation, water supply, urban infrastructure, and transportation, Patel Engineering Ltd continues to contribute significantly to the nation’s development agenda.

Disclaimer: (This information is provided solely for informational purposes. It is important to note that investing in the market or a business idea involves market risks. Before investing money as an investor/ owner/ partner, always consult an expert. DNP News Network Private Limited never advises to invest money on stocks or any specific business idea. We will not be liable for any financial losses.)

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