Indian Hume Pipe stock zooms near 13% on securing Rs194 crore project

7 Oct 2022 , 09:46 AM

The Indian Hume Pipe Company Limited stock skyrocketed around 13% on Friday’s trading session as it has received Letter of Acceptance under Jal Jeevan Mission project.

As per the regulatory filing, the LoA is for the work of Rs194.03 crore (excluding GST) from Maharashtra Jeevan Pradhikaran Division, Buldhana, under Jal Jeevan Mission Project for Jalgaon Jamod 150 Villages Regional Rural Water Supply Scheme in Dist. Buldhana, Maharashtra.

The project is to be completed within 24 months with a trail run for 12 months after completion of project, the company said.

The Company further added, that the Agreement will be signed in due course.

At around 9:46 AM, Indian Hume Pipe Company Ltd is currently trading at Rs183.60 per share up by Rs20.85 or 13.81% from its previous closing of Rs162.75 per share on the BSE.

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