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New order boosts Indian Hume Pipe

Capital Market 

Company was up 1.61% to Rs 423 at 14:25 on after the company said it has secured a work order worth Rs 122.86 crore in

The announcement was made during market hours today, 20 April 2017.

Meanwhile, the S&P Sensex was up 65.20 points or 0.22% at 29,401.77. The S&P Small-Cap index was up 153.42 points or 1.03% at 15,110.72.

On the BSE, 10,000 shares were traded on the counter so far as against the average daily volumes of 5,696 shares in the past one quarter. The stock had hit a high of Rs 427.95 and a low of Rs 419.60 so far during the day.

The stock had hit a record high of Rs 459 on 9 February 2017 and a 52-week low of Rs 160.50 on 25 May 2016. It had outperformed the market over the past one month till 19 April 2017, advancing 8.41% compared with the Sensex's 1.05% fall. The scrip had also outperformed the market over the past one quarter, gaining 10.9% as against the Sensex's 7.43% rise.

The small-cap company has equity capital of Rs 9.69 crore. Face value per share is Rs 2.

Company has secured work order of Rs 122.86 crore from Jal Nigam Maryadit, Bhopal for Bankpura Multi Village Rural Water Supply Scheme for 120 villages of Rajgarh district in

The project is to be completed within 24 months from the date of issue of letter of acceptance. The agreement will be signed in due course.

Company's net profit rose 182.1% to Rs 17.80 crore on 105.30% rise in net sales to Rs 406.50 crore in Q3 December 2016 over Q3 December 2015.

Indian Hume Pipe Company is engaged in the business of providing integrated water supply schemes including manufacturing, laying and jointing of pipelines of various pipe materials which provide infrastructure facility for development of water supply and irrigation projects.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, April 20 2017. 14:28 IST