Indian Hume Pipe receives three LoI worth Rs 187.06 cr

Indian Hume Pipe Company has received three Letters of Intent (LoI) for works aggregating to Rs 187.06 crore from Vidarbha Irrigation Development Corporation (VIDC), Nagpur, in Maharashtra.
  
The first LoI is for construction of MS feeder pipeline from Kochi barrage to Pench and allied works of Kanhan river projects (Kochi barrage), Nagpur. The project is to be completed within 16 months with a maintenance period of 5 years. The second LoI is for construction of pipe distribution network on Kapsi sub-branch of Asolamendha project. The project is to be completed within 18 months and with a maintenance period of 5 years. The third LoI is for Pauni lift irrigation scheme. The project is to be completed within 24 months with a maintenance period of 5 years.

On the order book front, the estimated balance value of the work as on January 31, 2019 stood at Rs. 4707.54 crore vs Rs. 3367.05 crore as on January 31, 2018.
  
Indian Hume Pipe has over 20 factories and more than 100 active projects under execution in India. The company operates in water supply, drainage/sewage, power and manufacturing sector. Its products include pipes, concrete sleepers and sport rifles.

On Friday, the stock of Indian Hume Pipe Company closed at Rs. 281, up by 2.52 per cent on the BSE. The stock had hit 52-week high of Rs. 406.75 on March 6, 2018 and 52-week low of Rs. 220.25 on October 3,2018 on the BSE.