Indian Hume Pipe advances after new order

Indian Hume Pipe advanced 3.19% to Rs 544.50 at 14:19 IST on BSE after the company said it has secured a work order of Rs 257.44 crore from Madhya Pradesh Urban Development Company.

The announcement was made during market hours today, 7 August 2017.

Meanwhile, the S&P BSE Sensex was up 0.06 points at 32,325.47. The S&P BSE Small-Cap index advanced 1.08% or 171.27 points at 16,097.90.

On the BSE, 12,000 shares were traded on the counter so far as against the average daily volumes of 13,289 shares in the past one quarter. The stock had hit a high of Rs 561.45 and a low of Rs 527.30 so far during the day. The stock had hit a record high of Rs 570 on 31 July 2017 and a 52-week low of Rs 254.78 on 4 August 2016.

The stock had underperformed the market over the past one month till 4 August 2017, advancing 0.15% compared with the Sensex's 3.57% rise. The stock had, however, outperformed the market over the past one quarter, gaining 32.63% as against the Sensex's 7.3% rise. The scrip had also outperformed the market over the past one year, advancing 106.01% as against the Sensex's 16.64% rise.

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

Indian Hume Pipe said it has secured a work order of Rs 257.44 crore from Madhya Pradesh Urban Development Company for improvement of water supply in Bhedaghat, Katangi, Patan, Majholi & Panagar Nagar Parishads and Sihora Nagar Palika in Jabalpur District and Tendukheda Nagar Parishad in Damoh District in Madhya Pradesh including operation and maintenance for a period 10 years. This work is to be completed within 28 months.

Indian Hume Pipe Company's net profit surged 252.5% to Rs 33.24 crore on 64% growth in net sales to Rs 488.01 crore in Q4 March 2017 over Q4 March 2016.

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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