Indian Hume pipeline good!

Indian Hume Pipe has received Letter of Acceptance for the work of Rs.503 crore (excluding GST) from Andhra Pradesh Drinking Water Supply Corporation.

This is for Construction of Drinking Water Supply Projects in Guntur District.

The project is to be completed within 24 months.

There has been a slew of orders from India Hume this month. Last week, it had announced getting two Letters of Acceptance aggregating to Rs.234 crore from Madhya Pradesh Jal Nigam Maryadit, Bhopal. And prior to that, early Dec, it was Rs.204 crore order from Public Health & Municipal Engineering Department, Government of Andhra Pradesh.

Indian Hume Pipe makes equipment for water supply, irrigation, drainage, power generation, rail transport, hydroelectric power generation and supplying millions of sleepers for railways in India.

The stock price has gone up over 8% today to Rs.368.35, with a super jump in volumes at more than 4 times.