Indian Hume Pipe jumps on winning order

Indian Hume Pipe Company rose 1.93% to Rs 466.70 at 14:33 IST on BSE after the company said it secured work order of about Rs 120 crore from Government of Andhra Pradesh.

The announcement was made during trading hours today, 24 November 2017.

Meanwhile, the S&P BSE Sensex was up 115.58 points, or 0.34% to 33,703.66.

On the BSE, 5,902 shares were traded in the counter so far, compared with average daily volumes of 4,587 shares in the past one quarter. The stock had hit a high of Rs 476.60 and a low of Rs 457.25 so far during the day. The stock hit a record high of Rs 591 on 1 September 2017. The stock hit a 52-week low of Rs 338 on 23 December 2016.

The stock had underperformed the market over the past 30 days till 23 November 2017, falling 11.26% compared with 1.65% rise in the Sensex. The scrip had also underperformed the market in past one quarter, falling 12.93% as against Sensex's 6.30% rise. The scrip had also underperformed the market in past one year, rising 21.25% as against Sensex's 29.88% rise.

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

Indian Hume Pipe Company said it has secured work order of Rs 119.73 crore from Public Health & Municipal Engineering department, Government of Andhra Pradesh - Ongole Municipal Corporation, for providing water supply improvements scheme under AMRUT project. The project is to be completed within 15 months.

Net profit of Indian Hume Pipe Company declined 23% to Rs 19.86 crore on 27.4% rise in net sales to Rs 544.51 crore in Q1 June 2017 over Q1 June 2016.

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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