Patels Airtemp Hits Upper Circuit on $23.6M Nigeria Order
By ThePip Desk
Patels Airtemp shares surged 10% to hit the upper circuit after securing a massive $23.6 million contract from Dangote Petroleum Refinery in Nigeria.
Patels Airtemp (India) shares hit the upper circuit limit of Rs. 332.75 on the BSE, rising 30.25 points or 10.00% from the previous close of Rs. 302.50.
Contract Details And Market Move
The stock opened at Rs. 332.75, touching an identical high and low of Rs. 332.75 with a total trading volume of 13469 shares on the counter.
- Previous Close: Rs. 302.50
- Upper Circuit Limit: Rs. 332.75
- Points Gained: 30.25 points
- Percentage Gain: 10.00%
- Shares Traded: 13469 shares
The BSE group ‘X’ stock carries a face value of Rs. 10 and holds a current market capitalization of Rs. 182.02 crore.
Range And Shareholding Data
The scrip recorded a 52-week high of Rs. 420.00 on 08-Jul-2026 and a 52-week low of Rs. 180.10 on 30-Mar-2026. Over the last week, the high and low stood at Rs. 332.75 and Rs. 268.10 respectively.
- Promoter Holding: 46.44%
- Institution Holding: 0.14%
- Non-Institution Holding: 53.42%
Patels Airtemp manufactures heat exchangers, pressure vessels, and refrigeration equipment while also handling turnkey HVAC projects domestically and internationally.
Export Order Specifications
The recent surge follows a fixed-price contract awarded by Dangote Petroleum Refinery and Petrochemicals in Nigeria for the supply of Air Cooled Heat Exchangers.
- Order Value in USD: $23,663,860
- Order Value in Rupees: Rs 226 crore
- Conversion Rate: 95.56 rupees per dollar
- Execution Timeline: 12 months
The company will execute the complete order from Dangote Petroleum Refinery and Petrochemicals within the designated 12-month period.