Patel Engineering Share Price | Share of Rs 51 will give fast returns, rush to buy stock, strong earning opportunity – NSE: PATELENG
Patel Engineering Share Price | As part of its strategy to offload non-core assets, Patel Engineering Ltd said in a statement on Wednesday. (NSE: EXAMPLE) has sold the remaining 9.99% equity stake in Welspun Michigan Engineers Limited. Patel Engineering Limited has sold this stake for Rs 100 crore. (Patel Engineering Limited Company Excerpt)
The company gave a statement
Patel Engineering Limited Company said in a statement, the related agreement has been successfully completed. Patel Engineering Limited has received revenue from the sale. According to the statement from Patel Engineering Limited Company, this disinvestment will contribute significantly to the cash flows of Patel Engineering Limited Company, providing additional financial strength to support the company's strategic priorities. Utilization of this fund will strengthen the balance sheet of Patel Engineering Limited Company. Patel Engineering Limited Company said it aims to enhance operational efficiency, expand market presence and drive innovation by making strategic investments in key areas. Also as per further updates Welspun Michigan Engineers Limited Company was purchased by Welspun Enterprises Limited Company.
Stock gave multibagger returns
On Thursday, October 31, the stock had closed at Rs 50.90, up 0.16 per cent. The stock has declined 11.63% in the last six months. The stock has given 5.17% returns in the last one year. The stock has given a return of 265.40% in the last five years. Patel Engineering Limited Company share price Rs. 52-week high price of Rs.79 and Rs. There is a 52-week low price of 46.10. The total market cap of Patel Engineering Limited is Rs 4,378 crore.
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