Hot Pursuit     16-Dec-22
Patel Engineering gains after board OKs Rs 350-cr rights issue
Patel Engineering advanced 2.37% to Rs 21.60 after the company announced that its board has approved raising funds up to Rs 350 crore through rights issue of equity shares.

In a regulatory filing made during market hours today, the company said that the board of directors has approved the raising of funds, through issuance and allotment of equity shares having face value of Rs 1 each up to an aggregate amount of Rs 350 crore, on rights basis, to the eligible equity shareholders of the company, as on the record date.

Patel Engineering has a strong presence in tunnels and underground works for hydroelectric and dam projects. The company has a consistent track record in execution of projects in domestic and international arena. PEL have completed over 85 dams, 40 hydroelectric projects and more than 300 km of tunnelling for clients which are mostly central PSUs or state government organizations.

The company's consolidated net profit rose 282.31% to Rs 26.15 crore in the quarter ended September 2022 as against Rs 6.84 crore during the previous quarter ended September 2021. Sales rose 23.27% to Rs 893.05 crore in Q2 FY23 over Q2 FY22.

Previous News
  Market drift lower; breadth positive
 ( Market Commentary - Mid-Session 08-May-24   09:39 )
  Patel Engineering to announce Quarterly Result
 ( Corporate News - 02-Feb-23   13:46 )
  Board of Patel Engineering approves fund raising up to Rs 350 cr via rights issue
 ( Corporate News - 16-Dec-22   11:47 )
  Patel Engineering consolidated net profit rises 62.33% in the September 2023 quarter
 ( Results - Announcements 03-Nov-23   14:15 )
  Patel Engineering allots 1.25 cr equity shares on preferential basis
 ( Corporate News - 10-Sep-22   10:55 )
  Patel Engineering Ltd leads gainers in 'A' group
 ( Hot Pursuit - 18-May-21   12:00 )
  Patel Engineering to announce Quarterly Result
 ( Corporate News - 21-Aug-20   16:53 )
  Patel Engineering to convene EGM
 ( Corporate News - 22-Feb-20   17:31 )
  Patel Engineering gains after board OKs Rs 350-cr rights issue
 ( Hot Pursuit - 16-Dec-22   12:20 )
  Patel Engineering reports standalone net loss of Rs 20.48 crore in the June 2016 quarter
 ( Results - Announcements 14-Sep-16   21:09 )
  Patel Engineering JV wins Tumkur Branch Canal micro irrigation project
 ( Corporate News - 22-Mar-23   09:05 )
Other Stories
  Auro Pharma's Telangana facility gets ‘OAI’ classification
  25-May-24   17:08
  Divis Lab Q4 PAT spurts 68% YoY; declares dividend of Rs 30/share
  25-May-24   16:56
  Cochin Shipyard Q4 PAT soars to Rs 259 cr
  25-May-24   16:14
  Nazara Tech PAT jumps 43% YoY in Q4 FY24
  25-May-24   14:41
  Torrent Pharma Q4 PAT climbs 56% YoY, board OKs to raise upto Rs 5,000 cr
  25-May-24   13:31
  United Spirits Q4 PAT soars 88% YoY to Rs 384 cr
  25-May-24   12:32
  Hindustan Copper Q4 PAT slips 6% YoY; board OKs raising Rs 500-cr via NCDs
  25-May-24   11:06
  NTPC PAT jumps 33% YoY to Rs 6,490 cr in Q4 FY24
  25-May-24   10:05
  Suzlon Energy slides as Q4 PAT declines to Rs 254 crore
  24-May-24   17:06
  Knowledge Marine ends higher after bagging LoA for $40 mn contract in Myanmar
  24-May-24   16:48
Back Top