Patel Engineering: Shares Rise on Rs 1,090-Crore Irrigation Project Win

Patel Engineering and its JV partner were declared the lowest bidder for a Rs 1,090.45-crore irrigation project in Maharashtra's Satara district. The project involves constructing a pipeline distribution network for Nira Deoghar Right Bank Main Canal, to be completed in 36 months. Patel Engineering's share in the JV is 20%. The company's stock rose up to 3.7% in early trade.