This multibagger infra stock is up 12%, market cap crosses ₹5,000 crore: Details here
Shares of Patel Engineering are up 12% today (May 21) after the company reported a 83% rise in Q4 profit. Patel Engineering’ net profit climbed to ₹141 crore in the last quarter against ₹77 crore in the corresponding quarter of the previous fiscal. The stock gained 12.56% to reach ₹65.95 against the previous close of ₹58.59 on BSE as the market cap of Patel Engineering climbed to ₹5,237 crore.
In the past three years, the stock has gained 358% and risen 153% in two years. The stock is also trading higher than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day, 150 day and 200 day moving averages.
The company’s revenue from operations climbed 11.5% to ₹1,343 crore compared to ₹1,205 crore in the corresponding period of the last fiscal. The company’s EBITDA also rose 41% to ₹238 crore and EBITDA margins climbed to 17.7% in Q4 compared to 14% in the corresponding period in the previous fiscal.
The company is engaged in civil engineering and construction of hydro projects, dams, tunnels, roads, railways.
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