Indian Hume Pipe gains after order win

Indian Hume Pipe Company rose 2.03% to Rs 559.40 at 11:41 IST on BSE after the company said it won Rs 163.50 crore order in Chhattisgarh for augmentation of water supply.

The announcement was made after market hours on Friday, 28 July 2017.

Meanwhile, the S&P BSE Sensex was up 129.18 points, or 0.40% to 32,439.06.

On the BSE, 3,082 shares were traded in the counter so far, compared with average daily volumes of 13,393 shares in the past one quarter. The stock had hit a high of Rs 570 so far during the day, which is also a record high for the counter. The stock had hit a low of Rs 556 so far during the day. The stock hit a 52-week low of Rs 253.18 on 2 August 2016.

The stock had outperformed the market over the past one month till 28 July 2017, rising 10.23% compared with 4.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 37.42% as against Sensex's 7.99% rise. The scrip had also outperformed the market in past one year, rising 102.96% as against Sensex's 15.18% rise.

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

Indian Hume Pipe Company secured an order worth Rs 163.50 crore from Raipur Municipal Corporation in Chhattisgarh for augmentation of water supply scheme of Raipur under Amrut Mission on turnkey basis, including operation & maintenance for 5 years. The work is to be completed within 30 months.

Net profit of Indian Hume Pipe Company rose 252.49% to Rs 33.24 crore on 64% rise 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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