Indian Hume Pipe soars 4% on work order from Tamil Nadu Water Board
Indian Hume Pipe Company shares rallied as much as 4 percent in morning trade Monday and hit a record high of Rs 498.70 on receiving work order from Tamil Nadu Water Board.
“The company has secured work order of Rs 183.46 crore from Tamilnadu Water Supply & Drainage Board, Coimbatore for providing improvements to water supply distribution to the added areas of Tiruppur Corporation in Tiruppur District including trial run, commissioning,” the company said in its filing.
The project is to be completed within 24 months for construction from the date of issuance of the work order and paid maintenance for a period of one year.
At 10:52 hours IST, the stock price was quoting at Rs 492.90, up Rs 13.25, or 2.76 percent on the BSE.
Posted by Sunil Shankar Matkar