Vijay Kedia Acquires 1.01% Stake in Patel Engineering Amid Stock Decline
Vijay Kedia has acquired a 1.01% stake in Patel Engineering, amounting to 1 crore shares, amid a 40% decline in the company's stock over the past year. Patel Engineering recently secured contracts worth over Rs 2,400 crore, including a significant MoU with the Government of Arunachal Pradesh for a Rs 1,700 crore hydropower project. Kedia's overall portfolio has decreased by 38% since December 2024.
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Vijay Kedia purchased a 1.01% stake in Patel Engineering, equivalent to 1 crore shares, through Kedia Securities Pvt Ltd, following a 40% drop in the stock over the past year. Patel Engineering secured contracts worth over Rs 2,400 crore, including a MoU with the Government of Arunachal Pradesh for the 144 MW Gongri Hydropower Project, estimated at Rs 1,700 crore.
The company also obtained Letters of Intent for coal projects valued at Rs 798.19 crore from Saidax Engineers and Infrastructure Pvt Ltd. Kedia's overall portfolio is valued at Rs 1,170 crore, a 38% decrease from December 2024, with only three stocks achieving positive returns in CY25.
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