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Patel Engineering Limited (PEL) on Tuesday said its joint venture has bagged a Rs 1,275.30 crore order in Madhya Pradesh.
The contract was awarded by Madhya Pradesh Jal Nigam, Patel Engineering said, adding its share in the JV project is Rs 446.36 crore.
The engineering, procurement and construction (EPC) project includes testing, commissioning, trial run and operations and maintenance.
It is expected to be completed in 24 months, and its operations and maintenance will be carried out for 10 years.
The Mumbai-based EPC firm has a strong presence in tunnels and underground works for hydroelectric and dam projects.

infrastructure, infra, real estate

Shares of Patel Engineering were locked at upper circuit for the third straight day on Thursday, and now quote at the highest level since November 2018.

Canal, Water Disputes, Water Resources

Patel Engineering has received a letter of acceptance (LOA) from City and Industrial Development Corporation (CIDCO) to construct a 6.70 km long treated water tunnel and associated works in Raigad district, Maharashtra.
The water tunnel project, worth Rs 519.50 crore, will be executed without any joint venture partnership, the infrastructure company said in a statement on Tuesday.
Rupen Patel, Chairman & Managing Director, Patel Engineering Limited, said it is a prestigious project for the company. "This project demonstrates our technical prowess and engineering skills, along with excellent execution capabilities."
The project is expected to be completed within 60 months, as stipulated in the bid. With expertise in tunnelling, underground works for hydroelectric and infrastructure development, the company is well-positioned to successfully complete the project within the stipulated time frame.
The tunnel will be constructed from Sai village to Vindhane village.
The Mumbai-based ..

Profit

Patel Engineering on Monday posted a four-fold jump in its consolidated net profit at Rs 84.3 crore during the March 2023 quarter, boosted by higher revenues.
It had clocked Rs 21.2 crore net profit during January-March quarter of preceding 2021-22 fiscal, the company said in a statement.
The company's revenues from operations also surged to Rs 1,298.34 crore, from Rs 1,111.6 crore in the year ago quarter.
Company's CMD Rupen Patel said: "This year has been exciting with new projects coming onboard and taking our order book to an all-time high beyond Rs 2,00,000 million. We have achieved improved revenue and profit figures showcasing the strength and resilience of our business in a competitive environment."
Kavita Shirvaikar, Director & CFO, said, The company won several water tunnel and irrigation projects in Maharashtra, Karnataka, and Madhya Pradesh during the quarter.
"We continue with our efforts to monetise non-core assets and have reduced debt by more than Rs 5,000 million 

Hydro power, dam

Shares of Patel Engineering were locked at the 20 per cent upper circuit at Rs 28.85, and in the process also hit a fresh 2.5 year high on the BSE on Tuesday amid heavy volumes

Patel Engineering said it has bagged a Rs 976 crore order from Sutlej Jal Vidyut Nigam Ltd, a joint venture between the Centre and Himachal Pradesh state government

Patel Engineering zooms over 100% in 7-days

The stock is currently trading at its 52-week high of Rs 108, rallied 127% in past seven trading sessions from Rs 47.60 on August 31.

Patel Engineering bags Rs 2,500 crore arbitration award

The company's total standalone debt as on March 31, 2016 stood at nearly Rs 4,535 cr

A broker laughs while speaking to a colleague, as they trade on their computer terminals at a stock brokerage firm in Mumbai

The stock locked in upper circuit of 20% at Rs 57.10 on the BSE.

Patel Engineering surges as JV wins orders worth Rs 2,377 crore

The stock surged 16% to Rs 58 on the BSE on back of heavy volumes.

Discount brokers have sustained the rise of the equity cult and gained market share. Now the old guard looks to strike back

Industry players say the number of demat accounts will continue to grow. However, the pace of addition may moderate.

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Half of India's population between the age of 30-55 years believes 59 years should be the age of retirement and thirty-two years is when one should ideally start retirement planning,

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The Apple iPhone 15 Pro Max stands out within the iPhone 15 series and offers substantial improvements over the previous generation model, the iPhone 14 Pro Max

Apple iPhone 15 Pro Max - Natural Titanium

India has been expanding its electronics manufacturing sector as companies diversify production beyond China amid growing Washington-Beijing tensions

Chromebook, Google laptop

Stock market holiday: After Mahatma Gandhi Jayanti on October 2, the market will be closed on October 24, Tuesday, for Dussehra

Stock market, NSE

Prime Minister Justin Trudeau has said Canada is "very serious" about building closer ties with India as it is a growing economic power and important geopolitical player, but wants New Delhi to work with Ottawa to ensure that they get the full facts about the killing of Hardeep Singh Nijjar.
Tensions flared between India and Canada following Trudeau's explosive allegations of the "potential" involvement of Indian agents in the killing of Khalistani extremist Nijjar on his country's soil on June 18 in British Columbia. India had designated Nijjar as a terrorist in 2020.
India angrily rejected the allegations as "absurd" and "motivated" and expelled a senior Canadian diplomat in a tit-for-tat move to Ottawa's expulsion of an Indian official over the case.
Trudeau said despite credible allegations against India, Canada is committed to building closer ties with it, The National Post newspaper reported.
Speaking at a press conference in Montreal, Trudeau said that he thinks it is extrem

Canadian Prime Minister Justin Trudeau

Maruti Suzuki India on Friday said it has received a show cause notice from the GST Authority proposing to demand interest and impose penalty, besides appropriating tax already paid, amounting to Rs 139.3 crore.
The notice pertains to the matter of tax liability under reverse charge basis on certain services for the period of July 2017 to August, 2022, Maruti Suzuki India said in a regulatory filing.
"The company will file a reply to the show cause notice before the Adjudicating Authority," it said, adding that there was no impact on its financial, operation or other activities due to the notice.
The company also said it has received a favourable order from the High Court of Punjab and Haryana wherein appeals filed by the Central Excise Department for the period June 2006 to March 2011 have been dismissed.
The Central Excise Department had filed appeals before the high court against an earlier tribunal order of August 2016, which was passed in favour of the company in which input .

Maruti Suzuki

For both Jio and Airtel, capital expenditure has increased exponentially as they sink in unprecedented levels of  investments into the network rollout for 5G services

5G spectrum

Cut to 2019, L&T was on the buyer side of the table of a hostile takeover of tech company Mindtree

SN Subrahmanyan

Juniper Hotels, which runs hotels under the Hyatt brand, has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi)

Stock market

WhatsApp's advantage is that it is the first app millions of Indian check first thing in the morning and innum­e­r­a­ble times during the day and night

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X will work with Hilton to create original video content on fashion, beauty, travel and other topics, the company announced Monday

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The ruling marks a significant victory for Tesla, as it means the company will not have to face class action claims on behalf of much larger groups of vehicle owners

Tesla, elon Musk

Why is India the graveyard of entertainment gigs? How did MS Swaminathan transform India? How to approach the markets in H2 FY24? What have scientists discovered about antimatter? All answers here

Exposure to natural light may help treat and prevent type 2 diabetes, according to a small study.
The research, presented at the annual meeting of the European Association for the Study of Diabetes (EASD) in Germany from October 2-6, carried out a range of metabolic tests on a group of people with type 2 diabetes when they were exposed to natural light and when they were exposed to artificial light and compared the results.
"The misalignment of our internal circadian clock with the demands of a 24/7 society is associated with an increased incidence of metabolic diseases, including type 2 diabetes," said Ivo Habets of Maastricht University, the Netherlands, who co-led the research.
"Natural daylight is the strongest zeitgeber, or environmental cue, of the circadian clock, but most people are indoors during the day and so under constant artificial lighting," said Habets.
The yet-to-be peer-reviewed study involved 13 participants with an average age of 70 years who stayed in research 

Patel Engineering

Patel Engineering JV bags Rs 1,275 crore project in Madhya Pradesh

Stock of this civil construction company has zoomed nearly 200% in 3 months

Patel Engineering bags Rs 519-cr water tunnel project in Maharashtra

Patel Engineering net profit grows to Rs 84.3 cr in March quarter

This smallcap construction & engineering stock has zoomed 75% in 7 days

Patel Engineering bags Rs 976 cr order for Luhri hydro electric project

Patel Engineering zooms over 100% in 7-days

Patel Engg bags Rs 2,500-crore arbitration award

Patel Engineering zooms 20% on debt reduction hopes

Patel Engineering surges as JV wins orders worth Rs 2,377 crore