Indian Hume Pipe surges on bagging fresh orders

The stock surged 15% to Rs 394 on the BSE in early morning trade.

Indian Hume Pipe Company has surged 15% to Rs 394 on the BSE in early morning trade after the company has secured orders worth of Rs 1,231 crore for Telangana Water Grid project in respect of Telangana Drinking Water Supply Projects (TDWSP) of Mahabubnagar and Nizamabad districts from Rural Water Supply and Sanitation Department, Government of Telangana.

The company has secured work order of Rs 815.30 crore for providing Drinking Water to Balkonda, Armoor, Nizamabad, Kamareddy and part of Yellareddy Constituencies from SRSP Reservoir, Nizamabad District including Operation and maintenance for 10 years. The project is to be completed within 24 months from the date of commencement, the company said in a BSE filing.

The company has also secured a work order of Rs 415.47 crore is for providing drinking water to habitations in Gadwal and Alampur constituencies from Jurala project, Mahabubnagar district, under Segment-II including operation and maintenance for 10 years. The project is to be completed within 18 months from the date of commencement, it added.

The stock has opened at Rs 370 and touched a high of Rs 402 on the BSE. A combined 44,022 shares changed hands on the counter on the BSE and NSE till 09:25 a.m.