Indian Hume Pipe Company rises on executing agreement with Kalpataru
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Indian Hume Pipe Company is currently trading at Rs. 141.45, up by 1.60 points or 1.14% from its previous closing of Rs. 139.85 on the BSE.
The scrip opened at Rs. 139.40 and has touched a high and low of Rs. 144.00 and Rs. 136.00 respectively. So far 9524 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 187.95 on 21-Sep-2022 and a 52 week low of Rs. 115.55 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 146.00 and Rs. 134.15 respectively. The current market cap of the company is Rs. 687.22 crore.
The promoters holding in the company stood at 69.92%, while Institutions and Non-Institutions held 1.52% and 28.55% respectively.
Indian Hume Pipe Company has executed Agreement for Development with Kalpataru (the Developer) for Sharing revenue from development of the company's freehold land admeasuring 59,784.29 sq. mtrs equivalent to 6,43,518.09 sq. ft. approximately, situated at Vadgaon in Pune city. This development will primarily be residential towers including amenities subject to the obtaining of applicable approvals and permissions to be obtained by the Developer. The company will be responsible for all costs related to providing FSI and conversion of land from industrial to residential use.
Indian Hume Pipe Company is engaged in the construction and maintenance of projects relating to water supply, irrigation, sanitation and sewerage systems, and pipe manufacturing.
