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Shares of Patel Engineering, a company involved in infrastructure and real estate business, are making waves. After a 98% decline, shares of Patel Engineering have gained tremendous momentum. The share of the company has increased from Rs.7 to Rs.50. Shares of Patel Engineering have gained more than 600% during this period. Veteran investor Vijay Kedia has placed a big bet on Patel Engineering. Kedia holds over 1 crore shares of Patel Engineering.
Shares surge after 98% drop
Share of Patel Engineering on 11 January 2008 was Rs. was at 656.55. On August 30, 2019, the company’s share fell to Rs. It was 7.20. Shares of Patel Engineering fell 98 percent. Here, the company’s shares are seeing a rapid rise. Shares of the company now on November 22, 2023 at Rs. closed at 52.02. Since August 30, 2019, shares of Patel Engineering have gained 623%. The company’s stock touched a 52-week high of Rs. is 62.11. At the same time, the company’s shares hit a 52-week low of Rs 13.10.
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Kedia owns 13000000 shares of the company
The veteran investor Vijay Kedia Patel Engineering holds 13000000 shares or 1.68% of the company. This data of the company’s shareholding is up to September 2023 quarter. Shares of Patel Engineering have gained nearly 195% so far this year. At the beginning of the year on January 2, 2023, the company’s shares were priced at Rs 17.66, which has now touched Rs 52.02. Shares of Patel Engineering have gained 97% in the last 6 months.
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