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Shares of Indian Hume Pipe zoom over 15%; here’s why

15 February 20243 mins read by Angel One
The company's shares have provided an impressive return of over 80% to its shareholders in the past year. Read on to know more.
Shares of Indian Hume Pipe zoom over 15%; here’s why
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The Indian Hume Pipe Company Limited is actively involved in the construction and maintenance of projects related to water supply, irrigation, sanitation, and sewerage systems, as well as in the manufacturing of pipes. The company has made a significant announcement regarding orders received by the company.

Order Details

As per the details available in the press release, the Company has received a Letter of Intent worth Rs. 495.04 Crores (excluding Royalty, Insurance, GST, Land acquisition, and crop compensation) from Tapi Irrigation Development Corporation Jalgaon (Jalgaon Irrigation Project Circle), Maharashtra, for the Engineering, Procurement, and Construction (EPC) of Civil, Mechanical, and Electrical works for the Pressurized Piped Distribution Network of Varkhede Londhe Irrigation Project, including the Operation and Maintenance of the entire system for five years. The project is to be completed within 24 months.

Share Performance

Today, the company’s shares commenced trading at Rs 235.35 per share, which is higher compared to the preceding day’s closing figure of Rs 234.80 per share. During the intraday trading session, the stock reached highs and lows of Rs 271 and Rs 235.35 respectively. Currently, the company’s shares are trading at Rs 257.25 per share on the BSE, reflecting an impressive gain of 9.56% compared to the previous day’s closing price.

The market capitalisation of the company stands at Rs 1,343 crore. Additionally, the stock has delivered an impressive return of 82% in the past year.

In terms of ownership, the Promoter holds 72.34%, while Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) hold 0.68% and 2.21%, respectively. The remaining 24.76% is held by public investors, as per the most recent update.

Stock Price Chart (Daily)

Stock Price Chart (Daily)

Business Overview

The Indian Hume Pipe Company Limited is actively involved in the construction and maintenance of projects related to water supply, irrigation, sanitation, and sewerage systems, as well as in the manufacturing of pipes.

These diverse pipe materials contribute to the infrastructure development of drinking water supply projects, irrigation projects, sanitation, and sewerage schemes. The company offers services in urban and rural water supply, large diameter irrigation pipelines, head works including pumping machinery, treatment plants, overhead tanks, and other associated civil construction.

Additionally, the company is engaged in the manufacturing and supply of concrete railway sleepers for Indian railways. The primary customer base of the company includes the central government, various state governments, and local bodies. Overall, the company plays a crucial role in providing essential infrastructure facilities for water supply, irrigation, and sanitation projects in collaboration with governmental and local entities.

Investors should keep this stock on their radar.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

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