Shares of Patel Engineering Ltd had been buying and selling within the inexperienced and 1% greater on Tuesday, 18 February, after the corporate, together with a three way partnership (JV), emerged because the Lowest Bidder (L1) for a venture value Rs 1,090 crore.
Maharashtra Krishna Valley Growth Company, Pune, has chosen the corporate and its three way partnership (JV) companion because the lowest bidder (L1) for a Rs 1,090.45 crore contract. The venture entails setting up a pipeline distribution community for the Nira Deoghar Proper Financial institution Primary Canal from Km 87 to Km 135, together with its distributaries and minors offtaking between Km 65 and Km 135.
The venture, situated in Kalaj village, Phaltan Taluka, Satara district, Maharashtra, is about to be accomplished inside 36 months. It will likely be executed as a three way partnership, with PEL holding a 20% stake.
The scope of labor contains excavation and refilling of pipe trenches, set up of varied pipeline buildings, supplying, jointing, decreasing, and laying of pipes, in addition to the set up of various kinds of valves, chambers, and shops. Moreover, the venture contains pipeline testing and an operations, restore, and upkeep interval of 5 years after completion.
The corporate’s inventory hit a 52-week excessive of Rs 74.99 on 27 February 2024 and a 52-week low of Rs 42.51 on 12 February 2025.
Nevertheless, at 12:31 pm, the shares of Patel Engineering shed all their early good points and had been buying and selling 3.42% decrease at Rs 42.97 on NSE.
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