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Indian Hume Pipe share price up 4% on Rs 550 crore order in Uttar Pradesh

The project is to be completed within 21 months from the date of signing of multipartite agreements. The operation and maintenance period is 10 years after completion of project.

December 11, 2020 / 10:01 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 4 percent in the morning session on December 11 after the company bagged a Rs 550 crore order in Uttar Pradesh.

"The Company has received Letter of Acceptance from State Water & Sanitation Mission, Namami Gange & Rural Water Supply Department (SWSM), Lucknow, Government of Uttar Pradesh for providing water supply schemes in 550 villages of Kanpur Division in Uttar Pradesh at an approximate value of Rs 550 crore," the company said in an exchange filing.

The project is to be completed within 21 months from the date of signing of multipartite agreements. The operation and maintenance period is 10 years after completion of project, it added.

The stock was trading at Rs 191.70, up Rs 7.20, or 3.90 percent at 09:39 hours. It has touched an intraday high of Rs 194.00 and an intraday low of Rs 189.90.

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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 averages.

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: Dec 11, 2020 10:01 am

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