Indian Hume jumps on two orders

Indian Hume Pipe is in the limelight today after a very long time. The stock is up over 13% at Rs.388 with an intra day high of Rs.402.40. Its 52-week high is at Rs.437.

The stock is reacting to the two orders it announced it has secured on Friday evening. The company said that it got two work orders aggregating to Rs. 1231 crore for Telangana Water Grid project in respect of Telangana Drinking Water Supply Projects (TDWSP) of Mahabubnagar and Nizamabad districts from Rural Water Supply and Sanitation Department, Government of Telangana.

Of this, the work order worth Rs.415 crore is for providing Drinking Water to habitations in Gadwal and Alampur Constituencies from Jurala Project, Mahabubnagar District, under Segment-ll including operation and maintenance for 10 years. The project is to be completed within 18 months from the date of commencement.

The second work order is for Rs.815 crore for providing Drinking Water to Balkonda, Armoor, Nizamabad, Kamareddy and part of Yellareddy Constituencies from SRSP Reservoir, Nizamabad District including Operation and maintenance for 10 years. The project is to be completed within 24 months from the date of commencement.

Indian Hume is engaged in the business of providing integrated Water Supply schemes including manufacturing, laying and jointing of pipelines of various pipe materials which provide infrastructure facility for development of Water supply and irrigation projects.