Patel Eng builds up, tapers

Today morning, Patel Engineering, a civil construction company focused on hydropower sector, announced receipt of a Rs.1,564 crore order.

This order is for Subansiri Lower Hydro Electric Project (2,000 MW), Arunachal Pradesh – the single largest hydro power generation project in India.

The project comprises of balance civil works of Power House Complex including HRT Intake Structures, Tail Race Channel etc.

The stock, with a FV of Re.1, rose from its previous close of Rs.11 to Rs.12.86; it has lost that steam now and is currently traded at Rs.11.33. Its 20% UC of the day is at Rs.13.20.