Indian Hume Pipe ends 3.5% higher on securing Rs156cr project

The project is to be completed within 18 months.

Oct 22, 2021 04:10 IST India Infoline News Service

Indian Hume Pipe Company Ltd stock rallied in the market on Friday after it has informed that the Company has received Letter of Acceptance for a project of contract value of Rs156.27cr (excluding GST) from Maharashtra Krishna Valley Development Corporation.

The contract is for construction of Piped Distribution Network (PDN) for Palashi Branch Canal, Vadjal Branch Canal, on Man Canal of Urmodi Irrigation Project for creation of 11280 Ha Irrigation Potential with 5 years operation and maintenance.

The project is to be completed within 18 months, said company in a regulatory filing.

The Agreement will be signed in due course, it added.

Indian Hume Pipe Company ended at Rs201.95 per piece up by Rs7 or 3.59% on Sensex.

The scsrip touched an intraday high and low at Rs205.15 per piece and Rs192 per piece respectively during early trading hours on Friday.

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