The meeting of the board of directors of the company is scheduled on August 14 to consider and approve unaudited financial results of the company for the quarter ended June 30, 2018.
Shares of Patel Engineering Company added 17 percent intraday Wednesday as company bagged two hydro projects and a tunnel project.
The company received LoI from Tamil Nadu Generation and Distribution Corporation (TANGEDCO) for construction of Kundah pumped storage hydro electric project (500 MW) near Oooty, costing Rs 667.63 crore.
The said project is funded by Rural Electrification Corporation (REC).
The other project is ARUN-3 hydro electric project (900 MW), in Nepal. The Company has been awarded LOT-2 where work includes construction of head race tunnel; underground power house, pressure shaft, surge shaft and other connected structures with contract value of Rs 1125.87 crore.
A tunnel project includes the construction of tunnel from Amar Mahal (Hedgwar Udyan) to Trombay Low Reservoir (TLLR) and further upto Trombay High Level Reservoir (THLR) - contract AMT-II for a contract value of Rs 618.21 crore from Municipal Corporation of Greater Mumbai (MCGM).
The meeting of the board of directors of the company is scheduled on August 14 to consider and approve unaudited financial results of the company for the quarter ended June 30, 2018.
At 10:35 hrs Patel Engineering Company was quoting at Rs 49.90, up Rs 6.15, or 14.06 percent on the BSE.
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