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Patel Engineering shares surge 10% on project worth Rs 976.50 crore

The project is located in Shimla and Kullu District in Himachal Pradesh, India.

August 02, 2021 / 10:20 AM IST
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Patel Engineering share price surged 10 percent intraday on August 2 after the company bagged an order from Sutlej Jal Vidyut Nigam worth Rs 976.50 crore

" .... today announced that it has bagged a Rs 976.50 crore, Luhri Hydro Electric Project Stage I (210 MW) (Luhri Project) from Sutlej Jal Vidyut Nigam Limited, a joint venture between the Government of India and Himachal Pradesh State Government," company said in its press release.

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The project is located in Shimla and Kullu District in Himachal Pradesh, India.

The company is the lead member of the LHPC having 60% shares and 40% by HES.

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Luhri Project is an EPC contract package covering design engineering services, civil and hydro-mechanical works of Luhri Hydroelectric Project Stage I (210 MW) located near village Nirath district Shimla and Kullu in Himachal Pradesh, India, company added.

The share touched a 52-week high of Rs 23.30 and a 52-week low of Rs 9.21 on 22 June, 2021 and 30 October, 2020, respectively.

Currently, it is trading 29.53 percent below its 52-week high and 78.28 percent above its 52-week low.

At 10:09 hrs, Patel Engineering Company was quoting at Rs 16.42, up Rs 1.42, or 9.47 percent on the BSE.
Moneycontrol News
first published: Aug 2, 2021 10:20 am

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