Indian Hume Pipe Company shines on getting LoI worth Rs 495.04 crore
Indian Hume Pipe Company is currently trading at Rs. 255.95, up by 21.15 points or 9.01% from its previous closing of Rs. 234.80 on the BSE.
The scrip opened at Rs. 235.35 and has touched a high and low of Rs. 271.00 and Rs. 235.35 respectively. So far 18535 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 303.45 on 08-Aug-2023 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. 271.00 and Rs. 231.60 respectively. The current market cap of the company is Rs. 1386.32 crore.
The promoters holding in the company stood at 72.34%, while Institutions and Non-Institutions held 2.89% and 24.77% respectively.
Indian Hume Pipe Company has received Letter of Intent (LoI) of the value of Rs 495.04 crore (excluding Royalty, Insurance, GST, Land acquisition and crop compensation) from Tapi Irrigation Development Corporation Jalgaon (Jalgaon Irrigation Project Circle), Maharashtra for Engineering, Procurement and Construction (EPC) of Civil, Mechanical and Electrical works for Pressurised Piped Distribution Network of Varkhede Londhe Irrigation Project including Operation and Maintenance of entire system for five years. The project is to be completed within period of 24 months.
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.
