Prestressed Concrete Pipe Manufacturer Bags New Order Worth Rs 858.88 Crore From Tapi Irrigation Development Corporation Jalgaon
On a year-to-date basis, the stock gave multibagger returns of 130 per cent returns whereas the BSE Sensex Index is up by 14.2 per cent in the same period.
The Indian Hume Pipe Company Limited has secured a significant EPC contract valued at Rs 858.88 crores from the Tapi Irrigation Development Corporation Jalgaon (Dhule Irrigation Project Circle) in Maharashtra. This contract involves the design, construction, testing and commissioning of a gravity-fed piped distribution network to irrigate a command area of 26,907 hectares under the Sulwade Jamphal Kanoli Lift Irrigation project in Dhule district. Additionally, the company will be responsible for the operation and maintenance of the entire irrigation system for a period of 5 years.
The contract is a turnkey project, meaning the company will handle all aspects of the project, from engineering and procurement to construction and commissioning. The project is expected to be completed within 24 months. The contract value of Rs.858.88 crores (excludes various additional costs such as royalty, insurance, GST, land acquisition and crop compensation).
About the Company
The Indian Hume Pipe Company Ltd., established in 1926, is a prominent player in the manufacturing, installation and maintenance of pipelines. The company offers a wide range of products and services, including EPC contracts for infrastructure projects, the manufacturing of various pipe materials and the production of concrete railway sleepers. While its pipe manufacturing segment contributes less than 10 per cent to its total revenue, the company has been increasingly focusing on EPC contracts, which involve turnkey execution of projects for water supply, drainage, sewerage and power sectors.
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With a strong presence in 12 states of India, the company has successfully executed projects for both public and private sector clients. Some of its notable clients include Indian Railways, Bharat Heavy Electricals Limited (BHEL), Rail India Technical and Engineering Services (RITES), L&T, HCC, NCC and TATA Power. The company's expertise and experience have also extended beyond India, with projects undertaken in countries like Iraq and Burma.
On September 02, the stock hit a 52-week high of Rs 613.15 with a 10 times spurt in volume. The company has a market cap of over Rs 3,000 crore. On a year-to-date basis, the stock gave multibagger returns of 130 per cent returns whereas the BSE Sensex Index is up by 14.2 per cent in the same period. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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