Shares of  Indian Hume Pipe Company Limited jumped 5.90 pc to Rs. 194.75 on NSE today late morning session, after the company received a letter of acceptance (LoA) for providing water supply schemes in 550 villages of Kanpur Division in Uttar Pradesh at an approximate value of Rs. 550 crore.

Indian Hume Pipe Company Limited on Friday has received Letter of Acceptance (LOA) from State Water & Sanitation Mission, Namami Gange & Rural Water Supply Department (SWSM), Lucknow, Government of Uttar Pradesh for providing water supply schemes in 550 villages of Kanpur Division in Uttar Pradesh at an approximate value of Rs. 550 crore.

"The company has received letter of acceptance (LOA) from State Water and Sanitation Mission, Namami Gange and Rural Water Supply Department (SWSM), Lucknow, Government of Uttar Pradesh for providing water supply schemes in 550 villages of Kanpur Division in Uttar Pradesh at an approximate value of Rs 550 crore," Indian Hume Pipe Co said in a regulatory filing.

Indian Hume Pipe Co said as per tender condition the total contract value of the work for 550 villages will be finalized and awarded after submission of Detailed Project Report (DPR) by the company and approved by the State Government.

Indian Hume Pipe Co said the submission of the detailed project report will be in tranches and the needs to be submitted within 180 days from the date of receipt of list of villages by the company from SWSM. "However, minimum work to the tune of Rs 400 crore is guaranteed as per tender condition, The project is to be completed within 21 months from the date of signing of multipartite agreements", the company added.

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