Indian Hume gains by more than 3 per cent on receipt of order

Indian Hume Pipe Company announced about receiving a letter of acceptance for the work of around Rs 357,53 crore, which includes GST. It is received from Madurai City Municipal Corporation (Tamil Nadu) to provide dedicated water supply to Madurai City Municipal Corporation. The company also mentioned that the project is to be completed within 30 months followed by six months trial-run and commissioning. 

Previously, the company had bagged an order worth Rs 492.30 crore (excluding GST) and also received a LoA regarding this from Minor Irrigation & Ground Water Development Division in Koppal (Karnataka) for the work of filling of tanks in Kushtagi taluk (Koppal district) by lifting water from Krishna River for ground water development and drinking purpose. The project is set to be completed within three years and its agreement would be signed in due course. 

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Indian Hume Pipe Company Limited is engaged in the construction and maintenance of projects relating to water supply, irrigation, sanitation and sewerage systems and pipe manufacturing. Its construction contracts segment includes water supply schemes, pipes supply, laying projects and other segment including railway sleepers, air rifles, development of land and other miscellaneous items. 

On Wednesday, the stock of the company was trading at Rs 170, up by 3.53 per cent or Rs 5.80 per share. The 52-week high is Rs 334.40 and 52-week low is Rs 155 on BSE.