## Indian Hume Pipe Company Stock Rises 10.6% Following Major Order Announcement
Indian Hume Pipe Company Ltd’s stock surged 10.6% to ₹594.20, gaining ₹56.95 as of 9:24 AM, following the announcement of a significant order valued at ₹858.88 crores from the Tapi Irrigation Development Corporation in Maharashtra.
The order pertains to the construction of a gravity piped distribution network for the Sulwade Jamphal Kanoli Lift Irrigation project, located in Tal. Shindkheda, Dist. Dhule, Maharashtra. The project scope includes engineering, procurement, and construction (EPC), along with trial, testing, and commissioning of the infrastructure.
Key details of the order include:
– **Coverage Area**: The project will cover a command area of 26,907 hectares from the Jamphal Dam.
– **Execution Duration**: The order is set for execution over a period of 24 months.
– **Operation and Maintenance**: Indian Hume Pipe will also be responsible for the operation and maintenance of the entire system for five years post-completion.
This domestic turnkey contract not only strengthens Indian Hume Pipe’s order book but also highlights the company’s expertise in large-scale irrigation infrastructure projects. The company clarified that this order does not involve any related party transactions or interests from promoter/promoter group companies.
With this substantial order, Indian Hume Pipe is well-positioned to enhance its market presence and drive future growth in the infrastructure sector. The positive market reaction reflects investor confidence in the company’s capabilities and prospects in the irrigation and construction industry.
