Indian Hume Pipe Company rose 4.96% to Rs 682.60 at 10:33 IST on BSE after the company said its board has approved exploring the possibility of monetising 14.77 acres land in Pune.
The announcement was made on Saturday, 1 October 2016.Meanwhile, the BSE Sensex was up 296.87 points, or 1.07%, to 28,162.83.
On BSE, so far 3,020 shares were traded in the counter, compared with average daily volume of 9,442 shares in the past one quarter. The stock hit a high of Rs 691.35 and a low of Rs 663.90 so far during the day. The stock hit a record high of Rs 699 on 29 September 2016. The stock hit a 52-week low of Rs 272.50 on 29 February 2016. The stock had outperformed the market over the past 30 days till 30 September 2016, rising 6.53% compared with 1.96% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 87.69% as against Sensex's 2.66% rise.
The small-cap company has equity capital of Rs 4.84 crore. Face value per share is Rs 2.
Indian Hume Pipe Company said it has its erstwhile pipe manufacturing factory on land admeasuring about 14.77 acres at Vadgaon in Pune, Maharashtra was closed with effect from 1 November 2015. The company's said that its board approved to explore the possibility of monetising the land and appoint reputed property consultant for identifying a developer.
Indian Hume Pipe Company's net profit jumped 311.15% to Rs 26 crore on 110.7% rise in net sales to Rs 447.07 crore in Q1 June 2016 over Q1 June 2015.
Indian Hume Pipe Company is engaged in the business of providing integrated water supply schemes including manufacturing, laying and jointing of pipelines of various pipe materials which provide infrastructure facility for development of water supply and irrigation projects.
Powered by Capital Market - Live News