Indian Hume Pipe spurts after new order win

Indian Hume Pipe Company jumped 5.23% to Rs 362 at 12:10 IST on BSE after the company said it bagged a work order worth Rs 578.50 crore from the Madhya Pradesh government.

The announcement was made on Saturday, 21 April 2018.

Meanwhile, the S&P BSE Sensex was up 126.48 points, or 0.37% to 34,542.06

On the BSE, 26,000 shares were traded in the counter so far compared with average daily volumes of 6,991 shares in the past two weeks. The stock had hit a high of Rs 375 and a low of Rs 359.05 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 285.80 on 26 March 2018.

Indian Hume Pipe Company has secured a work order of Rs 578.50 crore from Madhya Pradesh Jal Nigam Maryadit for Kundaliya Multi Village Rural Water Supply Scheme District - Rajgarh, Madhya Pradesh.

Net profit of Indian Hume Pipe Company declined 17.53% to Rs 14.68 crore on 6.79% decline in net sales to Rs 356.09 crore in Q3 December 2017 over Q3 December 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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