Indian Hume Pipe bags order Rs 183.46 crore

Indian Hume Pipe on Saturday announced that it has secured work order of Rs 183.64 crore from the Tamilnadu Water Supply & Drainage Board, Coimbatore.

The order is for providing improvements to Water Supply Distribution to the added areas of Tirupur Corporation, including trial run, commissioning.

The project is to be completed within 24 months for construction from the date of issuance of the work order and paid maintenance of one year.

The 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.

Stock view :-

Indian Hume Pipe Company Ltd is currently trading at Rs 497, up by Rs 17.35 or 3.62% from its previous closing of Rs 479.65 on the BSE.

The scrip opened at Rs 485 and has touched a high and low of Rs 498.7 and Rs 485 respectively. So far 46572(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 2323.77 crore.

The BSE group 'B' stock of face value Rs 2 has touched a 52 week high of Rs 492.45 on 16-Jun-2017 and a 52 week low of Rs 162.5 on 21-Jun-2016. Last one week high and low of the scrip stood at Rs 492.45 and Rs 433.7 respectively.

The promoters holding in the company stood at 69.92 % while Institutions and Non-Institutions held 5.75 % and 24.33 % respectively.

The stock is currently trading above its 50 DMA.

Indian Hume Pipe Company Ltd :-

BSE    492.30  12.65    (2.6)

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