Patel Engineering Ltd (PATELENG)

Patel Engineering Reports Strong Q4 Results - 20 May, 2024

Infrastructure company Patel Engineering reported an 83% YoY jump in Q4 net profit to Rs 141 crore, while revenue rose 11.5% YoY to Rs 1,343 crore. The standalone March 2024 net sales were up 5.43% YoY. Patel Eng shares closed at Rs. 57.35 on May 17, 2024 (NSE) and have given 11.36% returns over the last 6 months and 98.10% over the last 12 months.

Patel Engineering Reports Strong Q4 Results - 18 May, 2024

Infrastructure company Patel Engineering reported an 83% YoY increase in net profit to Rs 141 crore for Q4 FY24, with revenue from operations rising by 11.5%. The company's EBITDA also jumped 41%, and its total order book as of March 31, 2024, stands at Rs 18,663 crore.

Patel Engineering Shares Rise 342% in Three Years - 10 May, 2024

Shares of Patel Engineering Ltd have risen 342% in the last three years, with a market cap of Rs 4,660 crore. The stock has gained 122% in a year but lost 15% since the beginning of this year. Progressive Shares has a price target of Rs 99 on the Patel Engineering stock.

Patel Engineering JV Wins Water Lifting Project in Maharashtra - 09 May, 2024

Patel Engineering, along with its joint venture partner, has been declared as the lowest bidder for a Rs 342.76 crore irrigation project in Maharashtra. The Mumbai-based engineering firm specializes in hydropower and irrigation projects.

Patel Engineering Secures Lowest Bid for Irrigation Project - 08 May, 2024

Patel Engineering and its joint venture partner have secured the lowest bid for an irrigation project valued at Rs 343 crore in Maharashtra. The company reported a consolidated net profit of Rs 68.83 crore in Q3 FY24, up from Rs 24.34 crore YoY. Patel Engineering's share in the irrigation project stands at Rs 119.97 crore.

Anand Rathi Bullish on Patel Engineering Stock - 03 May, 2024

Domestic brokerage firm Anand Rathi recommends Vijay Kedia-backed construction engineering company Patel Engineering as its pick of the month and remains bullish on the stock. The company's share price has rallied over 3% to hit an intraday high of ₹59.74 apiece on the BSE. Anand Rathi suggests traders and investors contemplate entering long positions within the ₹56-58 range with a target price of ₹66.

Patel Engineering's Dilution Affects Shareholder Returns - 01 May, 2024

Patel Engineering issued 9.1% more new shares, diluting shareholder returns. Earnings per share only increased by 73%. Unusual items boosted net profit by ₹503m over the last year.

Patel Engineering Ltd Fairly Priced with Bright Future - 26 Apr, 2024

According to a valuation model, Patel Engineering is fairly priced at around 20% below intrinsic value. With profit expected to grow by 31%, higher cash flow should lead to a higher share valuation.

Hem Securities Recommends Buy Call on Patel Engineering - 25 Apr, 2024

Patel Engineering reported a consolidated total income of Rs 1076.12 crore for Q3-2024, up 2.87% from the previous quarter and 1.16% YoY. The company's net profit after tax was Rs 68.59 crore in the latest quarter. Promoters held 39.41% stake as of March 31, 2024.

Patel Engineering Launches QIP Issue - 24 Apr, 2024

Construction company Patel Engineering has launched a qualified institutional placement (QIP) issue with a floor price of Rs 59.50 per share, following board approval to raise funds through equity shares issuance.

Patel Engineering Launches QIP to Raise Funds - 23 Apr, 2024

Patel Engineering has launched a qualified institutional placement (QIP) to raise funds, with a floor price set at Rs 59.50 per share. The company aims to raise around Rs 400-500 crore through this offering. ICICI Direct initiated coverage on the stock with a BUY rating and a target price of Rs 80.

Patel Engineering Launches QIP; ICICI Direct Initiates Coverage with Buy Call - 22 Apr, 2024

Patel Engineering launched a QIP to raise up to Rs 400 crore, while ICICI Direct initiated coverage with a buy call and target price of Rs 80. Shares closed 6.36% higher ahead of the QIP announcement.