Patel Eng builds up after bagging Rs 361 cr orders

DALAL STREET SPIKES

The Patel Engineering scrip was up 3.88 per cent to Rs 239.90 after the company announced that it had secured orders worth Rs 374 crore for an irrigation project and a railway tunnel in Assam.

The scrip closed at Rs 230.95 yesterday and around 4.9 lakh shares were traded on the BSE on Tuesday. The company had recently won three contracts from the National Highways Authority of India (NHAI) worth Rs 361 crore.

The company's net profit for the quarter ended June 2005 rose 93.6 per cent to Rs 11.29 crore as compared to Rs 5.83 crore last year during the same period. Net sales rose 77.3 per cent to Rs 189.81 crore.