Vijay KediaâÂÂs portfolio multibagger penny stock under Rs 70 with Rs 18663 crore order book rockets 6 per cent today; do you own it?
The stock of Patel Engineering Ltd has shown remarkable growth, with multibagger returns of 130% in just 1 year, while the BSE Small-Cap Index is up by 58%. On Wednesday, the shares of Patel Engineering Ltd rose by 6.90% to Rs 67.44 per share. The company is involved in the construction of dams, bridges, tunnels, roads, and other heavy civil engineering works.
As of March 31, 2023, the company’s order book stands at Rs 18,663 crore, with significant contributions from various sectors. Patel Engineering Ltd has also received approval to acquire a 10% stake in Shail Tunnelling and Infra Private Limited, a strategic move to strengthen its tunnelling operations.
Additionally, the company has secured a major contract from the Government of Maharashtra for a project worth Rs 342.76 crore. This project involves the construction of a water-lifting arrangement for the Jigaon project, with Patel Engineering Ltd holding a 35% share.
In recent developments, ace investor Vijay Kedia has decreased his stake in the company to 1.55% as of March 2024. If you own Patel Engineering Ltd’s stock in your portfolio, share your thoughts in the comments.
Please note that this article is for informational purposes only and not investment advice. If you are interested in small-cap stocks with growth potential, consider DSIJ’s ‘Tiny Treasure’ service.