Indian Hume Pipe Company rose 5.27% to Rs 295.80 at 09:25 IST on BSE after the company said it has received three letters of intent for the works aggregating to Rs 187.06 crore from Vidarbha Irrigation Development Corporation, Nagpur.
The announcement was made on Saturday, 2 March 2019.Meanwhile, the S&P BSE Sensex was down 25.82 points, or 0.07% to 36,037.99.
On the BSE, 7624 shares were traded in the counter so far compared with average daily volumes of 1470 shares in the past two weeks. The stock had hit a high of Rs 315 and a low of Rs 294.15 so far during the day.
Indian Hume Pipe Company said the company has received three letters of intent for the works aggregating to Rs 187.06 crore (excluding GST) from Vidarbha Irrigation Development Corporation, Nagpur. The first order is for construction of M.S. Feeder Pipeline from Kochi Barrage to Pench and allied Works of Kanhan River Projects (Kochi Barrage), Nagpur. The project is to be completed within 16 months with a maintenance period of 5 years. The second order is for construction of Pipe Distribution Network on Kapsi Sub Branch of Asolamendha Project. The project is to be completed within 18 months and with a maintenance period of 5 years. The third order is for Pauni Lift Irrigation Scheme. The project is to be completed within 24 months with a maintenance period of 5 years.The Agreements will be signed in due course.
Indian Hume Pipe Company is engaged in the construction and maintenance of projects relating to water supply and sewerage systems, and pipe manufacturing.
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