Indian Hume Pipe emerges as a hot stock of small cap

Indian Hume Pipe Co., has emerged as the D - stock of small cap. On July 28, the stock has surged by more than 19 per cent and is currently trading at Rs 544.10. Stocks on July 27 closed at Rs 453.45. On July 28, the shares opened at Rs 544.10 gaining almost Rs 90.65. Shares' 52-week High/Low stands at Rs 544.10/272.50. Shares of the company in the last 1 month have given a return of 60 per cent. In the last 6 months the shares have gained 44 per cent. The scrip has hit the upper circuit on an intraday basis.

Company on July 27 has declared its Q1FY17 results in which the company has come out with flying colours. In Q1FY17, company’s net income from operation stands at Rs 447.62, which has doubled as compared to Q1FY16. EBITDA stands at Rs 52.59 crores which has again doubled from the previous year. Net profits stand at Rs 26 crores which have increased by 4 times as compared to the corresponding quarter of the previous fiscal.

The Indian Hume Pipe Co. Ltd. (IHP) was established in 1926 with the object of manufacturing, popularising and marketing Hume Pipes and allied products. Over a period of time the company has developed Pre-stressed Concrete Pipes (Non-Cylinder), Pre-stressed Concrete Cylinder Pipes, Bar Wrapped Steel Cylinder Pipes, Hume Steel Pipes, Welded Steel Penstocks, Pre-stressed Concrete Railway Sleepers and specialises in execution of Turnkey Water Supply and Sewerage projects.