Indian Hume Pipe hits record high after strong Q4 numbers

Indian Hume Pipe Company rose 4.33% to Rs 454 at 10:04 IST on BSE after net profit spurted 252.5% to Rs 33.24 crore on 64% increase in net sales to Rs 488.01 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 18 May 2017.

Meanwhile, the S&P BSE Sensex was up 265.56 points, or 0.87% at 30,700.35. The S&P BSE Small-cap index was up 186.04 points, 1.21% at 15,547.60.

High volumes were witnessed on the counter. On the BSE, 46,000 shares were traded on the counter so far as against the average daily volumes of 5,752 shares in the past one quarter. The stock had hit a high of Rs 470 so far during the day, which is also its record high. The stock hit a low of Rs 451.80 so far during the day.

The stock had hit a 52-week low of Rs 160.50 on 25 May 2016. The stock had outperformed the market over the past one month till 18 May 2017, advancing 5.06% compared with the Sensex's 3.81% rise. The scrip had, however, underperformed the market over the past one quarter advancing 3.97% as against the Sensex's 6.91% rise.

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

Indian Hume Pipe Company's board recommended a final dividend of Rs 2.40 per share for the financial year ended March 2017.

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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