Indian Hume soars high

On the back of almost 6x jump in volumes, Indian Hume Pipe is making waves. Opening over 11% higher at Rs.598.05, the stock zoomed up 14% up to hit a new 52-week high at Rs.613.15. It is now trading at Rs.580 levels.

The company announced receipt of order worth Rs.859 crore from Tapi Irrigation Development Corporation Jalgaon (Dhule Irrigation Project Circle), Maharashtra.

This is for execution of work on Engineering, Procurement and Construction (EPC), Trial, Testing, Commissioning of Gravity Piped Distribution Network to irrigate 26907 Ha. Command area of Jamphal Dam under Sulwade Jamphal Kanoli Lift Irrigation project

This also includes Operation and Maintenance of entire system for five years.

The project is to be delivered in 24 months.

The company specializes in manufacturing, laying, and jointing pipelines made from various materials such as RCC pipes, steel pipes, prestressed concrete pipes, penstock pipes, bar-wrapped steel cylinder pipes (BWSC), and prestressed concrete cylinder pipes (PCCP). These pipelines support infrastructure development for drinking water, irrigation, sanitation, and sewerage projects.