Indian Hume Pipe Surges Over 17% on New Orders

Indian Hume Pipe shares rallied as much as 17.35 per cent to hit intraday high of Rs 402.40 after the company secured orders worth Rs 1,230.77 crore.

Indian Hume Pipe Company said that it secured orders worth Rs 1,230.77 crore for water supply projects in Telangana. Indian Hume Pipe Company is engaged in the business of providing integrated water supply schemes including manufacturing, and laying of pipes. 

The company in a filing to BSE said, "It received work order worth Rs 415.47 crore for providing drinking water to habitations in Gadwal and Alampur constituencies from Jurala project, Mahabubnagar district, under segment-ll including operation and maintenance for 10 years. The project is to be completed within 18 months from the date of commencement."

The company also received an order worth Rs 815.30 crores for providing drinking water to Balkonda, Armoor, Nizamabad, Kamareddy and part of Yellareddy Constituencies from SRSP reservoir. The project is to be completed within 24 months from the date of commencement, the company statement added.

Shares of Indian Hume Pipe Company ended 12.2 per cent higher at Rs 385.10 outperforming the broader Nifty ended down 0.93 per cent.