Indian Hume Pipe share price gains 4 per cent on Rs 550 crore UP order

The shares of Indian Hume Pipe Company Ltd were trading up by 4 per cent on Friday after the company informed the bourses that it has bagged a Rs 550 crore order in Uttar Pradesh, India.

The project entails the water supply in 550 villages of Kanpur division for which, the company has received a letter of acceptance (LOA) from State Water & Sanitation Mission, Namami Gange & Rural Water Supply Department (SWSM), Lucknow, Government of Uttar Pradesh.

The above-mentioned project is to be completed within a period of 21 months from the date of signing of multipartite agreements. Furthermore, the project entails an operation & maintenance period of 10 years after completion of the project, the company said in its filing to BSE.

Indian Hume Pipe Company is engaged in the construction & maintenance of projects relating to water supply, irrigation, sanitation, and sewerage systems as well as pipe manufacturing.

On Friday, the stock of Indian Hume Pipe Company closed at Rs 192.35 per share, up by 4.25 per cent or Rs 7.85 per share on BSE, against a 0.30 per cent gain in the benchmark index. The 52-week high was recorded at Rs 272 and the 52-week low was Rs 101 on BSE.