Stocks

Company news: Indian Hume Pipe receives new orders

| Updated on March 17, 2020 Published on March 17, 2020

Indian Hume Pipe Company Ltd has received two work orders from public health engineering department (PHED), Jaipur, Rajasthan. The contract is for Bilaspur Prithviraj Nagar Water Supply Project Phase-I Stage-I of ₹295.51 crore (including GST) in joint venture, where the share of the company is 85 per cent i.e. ₹251.18 crore; and Bilaspur Jaipur Water Supply Project Stage-II (Phase-I) of ₹173.16 crore (including GST) in JV where its 60 per cent is worth ₹103.90 crore. The project has to be completed in 30 months. The agreement will be signed in due course, the company said. Shares of Indian Hume Pipe jumped 9.3 per cent at ₹149.70 on the BSE.

Published on March 17, 2020
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