The Hindu Business Line : Indian Hume Pipe in real estate?

Indian Hume Pipe, which has used up only a fraction of its surplus properties for real estate development, is rumoured to have drawn up a development plan for unutilised properties at several metro locations.

Market sources put a total value of such properties between Rs 750 crore and Rs 800 crore, around four times the stocks current market capitalisation. The company, however, has not officially declared any such plan.

It's paid-up equity stands at Rs 4.84 crore and reserves at Rs 115.22 crore and EPS at Rs 11.8 (as on September 30, 200). The stock closed 4 per cent up at Rs 366.45 on the BSE.

Jayanta Mallick

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