The share price of Indian Hume Pipe increased around 4% intraday Tuesday as the company got a giant order worth INR 221crore from Madhya Pradesh Government. The company has finally received a letter of acceptance (LoA) for the project of INR 221.72 Cr. from the Madhya Pradesh Jal Nigam Maryadit.

The project includes engineering, development, procurement, commissioning, testing, operation & maintenance of numerous components of Indwar-1 – Multi Village Rural Water Supply Scheme at Katni and Umaria for ultimate capacity of fetching around 29 mld treated water from Bansagar Dam on river sone and transporting to villages of Manpur block, Umaria, Barhi and vijayraghavgarh blocks, Katin district. The maintenance of the whole scheme for 10 years is also included in the project.

The project would be completed within 2 years. At 04:00 PM, 18 September 2018, the share price was quoting at INR 278.60 up INR 7.25 or up 2.67%.

Image Credit: Indian Hume Pipe