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Indian Hume Pipe share price gains after bagging orders worth Rs 198 crore from Karnataka Government

The Company has received Letter of Acceptance for the work of Rs 198.80 crore from the Karnataka Government for the work of filling of tanks in Kalaburgi on turnkey basis including operation and maintenance for 5 years.

January 14, 2021 / 10:14 AM IST
Indian Hume Pipe | Company has received Rs 134.82 crore water supply contract in Odisha.

Indian Hume Pipe | Company has received Rs 134.82 crore water supply contract in Odisha.

 
 
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Indian Hume Pipe Company share price gained 2 percent intraday on January 14 after the company bagged order from the Karnataka government.

The Company has received Letter of Acceptance (LoA) for the work of Rs 198.80 crore from Minor Irrigation and Ground Water Development Division, Kalaburgi, Karnataka Government for the work of filling of tanks in Kalaburgi (South) Taluka of Kalaburgi district by lifting Water from Bennethora Reservoir for ground water development & drinking water purpose on turnkey basis including operation and maintenance for 5 years. The project is to be completed within 24 months, the company said in an exchange filing.

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The stock was trading at Rs 212.05, up Rs 4.20, or 2.02 percent at 09:37 hours. It has touched an intraday high of Rs 218.00 and an intraday low of Rs 211.95.

According to Moneycontrol SWOT Analysis powered by Trendlyne, the company has zero promoter pledge. The stock is showing strong momentum: Price above short, medium and long term moving averages.

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Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News
first published: Jan 14, 2021 10:14 am

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