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Last Updated : Sep 11, 2019 03:41 PM IST | Source: Moneycontrol.com

Indian Hume Pipe jumps 8% on receiving letter of intent for Gowardhan project in Maharashtra

The company received letter from Vidarbha Irrigation Development Corporation, Nagpur.

 
 
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Shares of Indian Hume Pipe rallied nearly 8 percent intraday on September 11 after receiving letter of intent for the Gowardhan project.

The company, on September 10, said it has received a letter of intent for the work of Rs 133.08 crore (excluding GST) for Gowardhan project in Maharashtra.

The letter was received from Vidarbha Irrigation Development Corporation, Nagpur.

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The project is to be completed within 18 months, Indian Hume Pipe said, adding the agreement will be signed in due course.

The stock was quoting at Rs 260.00, up Rs 12.35, or 4.99 percent on the BSE at 1519 hours IST.
First Published on Sep 11, 2019 03:41 pm
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