Patel Engineering jumped 5.80% to Rs 56.75 after the company announced that it has signed a memorandum of understanding (MOU) with Rail Vikas Nigam (RVN) for collaborating on domestic and global projects.
"The MOU marks the beginning of a strategic partnership, aimed at jointly executing projects in the field of hydro and other infrastructure projects both within India and internationally, the company said.
It further added that the agreement outlines a framework for collaboration between the company and RVNL to leverage each others strengths and capabilities in pursuing hydro and other infrastructure projects. Under this MOU, both parties will explore opportunities to work together in various capacities.
Patel Engineering is a civil construction company that specializes in hydropower and irrigation projects.
The company's consolidated net profit rose 37.51% to Rs 53.49 crore despite a 1.52% fall in sales to Rs 1101.66 crore in Q1 FY25 as compared to Q1 FY24.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
 "psu, nifty, sensex, stock market")
 "Supreme Court, SC")
 "N Biren Singh, Biren Singh, Biren")
 "Modi, Narendra Modi")
 "valuation stock market")
