Indian Hume Pipe Co surges on $137 mln order win

Indian Hume Pipe

14/03/2024 06:12

** Shares of Indian Hume Pipe Co  IHME.NS  surge 17% at
276.3 rupees, set for best day since mid-2020
    ** Co says JV got 11.38 bln rupees ($137.3 mln) work order
from Telangana state govt for water supply, sewerage projects
    ** More than 1.3 mln shares trade, 4.9x 30-day avg 
    ** Stock fell 16.2% in last four sessions, its longest
losing streak since Dec-end
    ** Still, stock up 12% YTD, after 56.5% climb in 2023
 
 ($1 = 82.8890 Indian rupees)

 (Reporting by Rama Venkat in Bengaluru)
 ((ramavenkat.raman@thomsonreuters.com; https://twitter.com/ramavenkat0607;))