Indian Hume Pipe zooms on receiving LoA of Rs 550 crore

11 Dec 2020 Evaluate

Indian Hume Pipe Company is currently trading at Rs. 193.60, up by 9.10 points or 4.93% from its previous closing of Rs. 184.50 on the BSE.

The scrip opened at Rs. 189.90 and has touched a high and low of Rs. 195.00 and Rs. 189.90 respectively. So far 19712 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 272.00 on 31-Jan-2020 and a 52 week low of Rs. 101.00 on 25-Mar-2020.

Last one week high and low of the scrip stood at Rs. 197.75 and Rs. 182.50 respectively. The current market cap of the company is Rs. 936.24 crore.

The promoters holding in the company stood at 69.92%, while Institutions and Non-Institutions held 2.85% and 27.23% respectively.

Indian Hume Pipe Company has received Letter of Acceptance (LoA) from State Water & Sanitation Mission, Namami Gange & Rural Water Supply Department (SWSM), Lucknow, Government of Uttar Pradesh for providing water supply schemes in 550 villages of Kanpur Division in Uttar Pradesh at an approximate value of Rs 550 crore.

As per Tender condition, the total contract value of the work for 550 villages will be finalized and awarded after submission of Detailed Project Report (DPR) by the Company and approved by the State Government. Further the submission of DPR will be in tranches and need to be submitted within 180 days from the date of receipt of list of villages by the Company from SWSM. Thereafter Letter of Acceptance will be issued for each scheme and multipartite agreement will be signed. However, minimum work to the tune of Rs 400 crore is guaranteed as per Tender condition.The project is to be completed within 21 months from the date of signing of multipartite agreements. The Operation & Maintenance period is 10 years after completion of project.

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.

India Hume Pipe Share Price

255.00 -0.20 (-0.08%)
28-Mar-2024 15:16 View Price Chart
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