Shares of Patel Engineering Ltd were trading in the green and 1% higher on Tuesday, 18 February, after the company, along with a joint venture (JV), emerged as the Lowest Bidder (L1) for a project worth Rs 1,090 crore. 

Maharashtra Krishna Valley Development Corporation, Pune, has selected the company and its joint venture (JV) partner as the lowest bidder (L1) for a Rs 1,090.45 crore contract. The project involves constructing a pipeline distribution network for the Nira Deoghar Right Bank Main Canal from Km 87 to Km 135, along with its distributaries and minors offtaking between Km 65 and Km 135.

The project, located in Kalaj village, Phaltan Taluka, Satara district, Maharashtra, is set to be completed within 36 months. It will be executed as a joint venture, with PEL holding a 20% stake.

The scope of work includes excavation and refilling of pipe trenches, installation of various pipeline structures, supplying, jointing, lowering, and laying of pipes, as well as the installation of different types of valves, chambers, and outlets. Additionally, the project includes pipeline testing and an operations, repair, and maintenance period of five years after completion.

The company’s stock hit a 52-week high of Rs 74.99 on 27 February 2024 and a 52-week low of Rs 42.51 on 12 February 2025.

However, at 12:31 pm, the shares of Patel Engineering shed all their early gains and were trading 3.42% lower at Rs 42.97 on NSE.

Wondering About Patel Engineering? The Analyst Has Answers.

Unlock profitable opportunities every day! Unicorn Signals provides actionable intraday trading signals for stocks and futures. Don’t miss out – download Unicorn Signals and start winning now!