Indian Hume Pipe jumps 8% on receiving letter of intent for Gowardhan project in Maharashtra

Indian Hume Pipe jumps 8% on receiving letter of intent for Gowardhan project in Maharashtra

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Shares of Indian Hume Pipe rallied nearly 8 percent intraday on September 11 after receiving letter of intent for the Gowardhan project.

The company, on September 10, said it has received a letter of intent for the work of Rs 133.08 crore (excluding GST) for Gowardhan project in Maharashtra.

The letter was received from Vidarbha Irrigation Development Corporation, Nagpur.

The project is to be completed within 18 months, Indian Hume Pipe said, adding the agreement will be signed in due course.

The stock was quoting at Rs 260.00, up Rs 12.35, or 4.99 percent on the BSE at 1519 hours IST.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.

courtsey By – https://www.moneycontrol.com/news/buzzing-stocks/indian-hume-pipe-jumps-8receiving-letterintent-for-gowardhan-projectmaharashtra_12974741.html

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