Stock Market: This multibagger smallcap was under pressure, gained momentum as soon as it received orders, the price is less than 50

News Topical, Digital Desk : The stock market saw record levels today. During the session, the Nifty crossed the 26,300 mark and reached a new all-time high. Several stocks are also seeing gains today. Among these is Patel Engineering, a civil construction company included in the BSE Smallcap Index. The company received a large order, resulting in a gain of over 14%. The company, which has delivered multi-bagger returns to its investors over the past five years, was under pressure for the past year, posting negative returns. However, with orders coming in today, the stock has seen strong buying at lower levels.

What's the company's news?

The company stated in a filing with the stock exchange that it has received two Letters of Intent from Saidax Engineers and Infrastructure Pvt Ltd. The orders are for the Jhiria West Open Cast Project located in the Hasdeo area of ​​Bilaspur, Chhattisgarh, under South Eastern Coalfields Ltd (SECL). The total order value is ₹798.19 crore. The company stated with the orders that the new orders will further strengthen its position in the segment. The stock's performance has been under pressure throughout 2025. However, today the stock saw significant buying. The stock reached an intraday high of 38.6, a gain of over 16% from its previous close of 33.16. A year ago, the stock was above the 50 level. In December of last year, it even reached close to the 60 level. However, at the end of 2020, the stock was below the 10 level. 

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