Shares of Patel Engineering Ltd jumped 13.66 per cent to ₹37.70 on the National Stock Exchange on Thursday afternoon, following the company’s announcement of securing two letters of intent worth ₹798.19 crore for coal excavation work in Chhattisgarh.
The Mumbai-based infrastructure firm received the LOIs from Saidax Engineers and Infrastructure Private Limited for excavation and associated works at Jhiria West Open Cast Project in Hasdeo Area, Bilaspur. The contract, awarded for South Eastern Coalfields Limited (SECL), spans nine years and excludes goods and services tax.
The stock opened at ₹35.50 against the previous close of ₹33.17 and touched an intraday high of ₹38.60. Trading volumes surged to 1,310.25 lakh shares with a turnover of ₹491.87 crore, reflecting strong investor interest in the development.
The project scope includes overburden removal, coal cutting using surface miners, loading and transportation of coal, along with hiring of plant and equipment, diesel supply, and complete maintenance operations.
Managing Director Kavita Shirvaikar stated the projects represent a natural extension of the company’s large-scale infrastructure work and open new avenues. She highlighted a robust tender pipeline of over ₹34,000 crore already bid and under evaluation, with additional opportunities worth ₹18,000 crore expected before the financial year-end.
The 76-year-old company has expertise in hydropower, tunneling and irrigation segments, having completed over 85 dams and 40 hydroelectric projects.
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Published on November 27, 2025
