Indian Hume Pipe Co rises on development agreement with Birla Estates

Indian Hume Pipe

18/07/2023 09:20

** Shares of Indian Hume Pipe Company Ltd  IHME.NS  rise as
much as 5.5% to 244.95 rupees
    ** The construction engineering firm says it executed
development agreement with Birla Estates for sharing revenue
from development of co's freehold land at Delhi 
    ** Revenue generated from the sale of project will be shared
in ratio of 36.50% for IHME and 63.50% for Birla Estates 
    ** Over 362,000 shares change hands, 1.0x the 30-day moving
avg
    ** As of last close, stock up ~50% this year 


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))