Patel Engineering Share Price rushed over 19 Per Cent

Patel Engineering share price rushed over 19 per cent on NSE today. Construction company Patel Engineering?has won arbitration?awards of more than Rs.2,500-cr and estimates its debt to halve on the Cabinet's decision to revive construction sector. The total standalone debt of the company as on March 31, 2016 stood at nearly Rs.4,535 cr. Further, claims approximating to Rs.5,000 cr are in the arbitration process and are estimated to be monetized within the next 12 to 18 months based on the Cabinet’s decision, it stated adding the same would be utilized to decrease the debt even further.

Patel Engineering Share Price Analysis:

The stock made its 52-week high of Rs.82.70 (06-Jan-16) while it made its 52-week low of Rs.43.30 (17-Aug-16).The life time high of Patel Engineering share price stands at Rs.1067.50 (04-Jan-08), on the other hand, the life time low of the stock stands at Rs.26.70 (06-Aug-13).

The scrip opened at Rs.77.50 from a previous closing of Rs.64.60. At 11:56 am, the day’s high of the stock stood at Rs.77.50 while the day’s low read at Rs.77.50. So far, the traded volume stands at 7,50,208 shares with a traded value of Rs.581.41 lac.

 According to the Dynamic Levels researchers and market analysts, Patel Engineering belongs to the top 500 shares group for the quarter ended June 30, 2016. The stock has both strong financials and fundamentals.  

 The stock has an ADM or Average Daily Movement of 2.52. Its average volume of 20 days stands at 4,42,564 shares. The market cap of Patel Engineering amounts to Rs.496.17 (Cr) while the book value stands at 246.43. The P/E Ratio of the scrip is recorded to be 0.00. Currently, Patel Engineering share price is trading 19.97 per cent higher at Rs.77.50 on the National Stock Exchange (NSE).To get information on the resistance and support levels of the stock and also to know more about the fundamentals and financials of Patel Engineering, please visit Patel Engineering share price history.