Indian Hume Pipe Company rose 3.79% to Rs 353.70 at 10:40 IST on BSE after the company said it received letter of acceptance for construction of drinking water supply projects worth Rs 502.89 crore in Andhra Pradesh.
The announcement was made after market hours yesterday, 20 December 2018.Meanwhile, the S&P BSE Sensex was down 382.26 points, or 1.05% to 36,049.41.
On the BSE, 28,000 shares were traded in the counter so far compared with average daily volumes of 6971 shares in the past two weeks. The stock had hit a high of Rs 368.35 and a low of Rs 345.80 so far during the day. The stock hit a 52-week high of Rs 465 on 27 December 2017. The stock hit a 52-week low of Rs 220.25 on 3 October 2018.
Indian Hume Pipe Company said it has received letter of acceptance for the work of Rs 502.89 crore (excluding GST) from Andhra Pradesh Drinking Water Supply Corporation (APDWSC), Vijayawada, Andhra Pradesh for the work of construction of drinking water supply projects in Guntur District. The project is to be completed within 24 months.
Net profit of Indian Hume Pipe Company rose 258.05% to Rs 29.79 crore on 94.32% rise in net sales to Rs 416.18 crore in Q2 September 2018 over Q2 September 2017.
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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