Indian Hume Pipe receives LoA from Government of Karnataka

Concrete pipe manufacturing company, Indian Hume Pipe Co Ltd (IHP) announced that they have received a Letter of Acceptance (LoA) from Government of Karnataka.

The company informed on March 7, 2020 that they have bagged an order worth Rs 492.30 crore (excluding GST) and has also received a LoA regarding this from Minor Irrigation & Ground Water Development Division in Koppal (Karnataka).

Indian Hume Pipe Co further added that the work is for filling of tanks in Kushtagi taluk (Koppal district) by lifting water from Krishna River for ground water development and drinking purpose. The project is to be completed within three years and its agreement would be signed in due course. 

IHP was established in 1926 with the object of manufacturing, popularising and marketing hume pipes and allied products. Today, the company has a wide network of over 20 factories and around 100 projects under execution in India.

At 2.13 pm on Monday, the stock of IHP is trading at Rs 159.40, down by 2.92 per cent against its previous close of Rs 164.20. Its 52-week high is Rs 334.40 while, its 52-week low is Rs 155.00 on BSE.