One of the biggest beneficiary of the Indian government's fast tracking of Arbitral awards have been infrastructure firms and one of the major ones has been none but Patel Engineering. Patel Engineering share price rose over 4 per cent intraday on the National Stock Exchange (NSE) after this development.
The company has witnessed huge amount of money being stuck at the hands of conflict between the contractor and government. NITI Aayog has given the SOP or standard operating procedures for release of payment for timely implementation of the infrastructure projects in the country, which have been stuck because of fund requirement.
Recently some of the infrastructure companies have received communication from National Highways Authority of India (NHAI) for the arbitral award payment, which is significantly estimated to boost cash flow situation of the infrastructure majors. The infrastructure companies have been asked to open an escrow account and submit bank guarantees within a month for recovering the amount.
Funds received shall help the company to pare down its debt and enhance working capital requirement, which in turn shall mobilize the stuck project and pump execution capabilities of the companies.
Reacting to this development, Patel Engineering share price has soared more than 25 per cent in the last few trading sessions.
Important Fundamentals:
- Average Daily Movement [ADM] : 5.51
- Average Volume [20 days] : 1176160
- Consolidated FY 15-16 PE Ratio: 75.91
- Standalone FY 15-16 PE Ratio : 110.57
- Book Value : 246.43
- Market Cap (as on 12th Dec’ 2016) : 642.87 (Cr)
According to Dynamic Levels analysts and researchers, Patel Engineering belongs to the top 500 shares set for this quarter. It is a good stock for investment and Dynamic Levels market analysts and experts expect good returns from it. The stock has both strong financials and fundamentals.
In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Patel Engineering share price history.
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