After Signing MoU With RVNL, The Share Price Of Patel Engineering Increases By 6%

Following the MOU, the share price of Patel Engineering increased by 6.15% to ₹56.94 per share on the BSE, while the price of RVNL shares increased by 1.6%.

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As of June 30, 2024, Patel Engineering had a total order book of ₹17,791 crore, including L1 of ₹111 crore

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The company's consolidated net profit for the first quarter of FY25 was ₹48.17 crore, up 25.81% from ₹38.39 crore in the same quarter of the previous fiscal year.

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In Q1FY25, the company's operating revenue dropped 1.52 percent year over year (YoY) to ₹1,101.66 crore from ₹1,118.61 crore.

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Under the terms of the agreement, Patel Engineering and RVNL will work together to pursue hydro and other infrastructure projects by utilizing each other's advantages and skills.

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With a market capitalization of almost ₹1 lakh crore, RVNL has experienced an incredible 30-fold gain on its shares after going public in 2019.

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