Indian Hume Pipe in green

After three consecutive days of fall, Indian Hume Pipe was up in the green today. Opening over 4% higher at Rs.180, it rose further by almost 5.5% to Rs.182; it is currently trading at Rs.177 levels.

The stock is reacting positively to the receipt of a new order.

It has received order worth Rs.135 crore (excluding GST) from Rural Water Supply & Sanitation, Odisha.

This is for putting up of Rural Piped Water Supply Projects pertaining to Kashinagar & Gumma Block of Gajapati including 5 years operation and maintenance on EPC Contract.

The project is to be completed within 2 years.

In March, it had received letter of acceptance for a project worth Rs 357 crore from Madurai City Municipal Corporation, Tamil Nadu.

The company had ended Q1FY21 with a net loss of Rs.5.5 crore on a revenue from operation at Rs.218 crore, down 53% (YoY).