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Indian Hume Pipe bags order worth Rs 859 cr

Indian Hume Pipe bags order worth Rs 859 cr

by | Aug 31, 2024 | Share Market


Last Updated : Aug 31 2024 | 5:04 PM IST

Indian Hume Pipe Company announced that it has received letter of intent from Tapi Irrigation Development Corporation Jalgaon, Maharashtra for an EPC project worth Rs 858.88 crore.

The order includes engineering, procurement and construction (EPC), trial, testing, commissioning of gravity piped distribution network to irrigate 26907 hectare (Ha) command area of Jamphal Dam under Sulwade Jamphal Kanoli lift irrigation project taluka Shindkheda, district Dhule including operation and maintenance of entire system for five years.

The value of the said order is Rs 858.88 crore and it will be executed within 24 months.

Indian Hume Pipe Company is engaged in the business of manufacturing, laying and jointing of pipelines. The company has also been undertaking infrastructure development programmes by way of execution on turnkey basis the combined water supply projects. The company also manufactures and supplies concrete railway sleepers to Indian Railways.

The company reported a net profit of Rs 31.16 crore in Q1 FY25, steeply higher than Rs 8.51 crore recorded in Q1 FY24. Net sales grew by 4.9% year on year to Rs 364.14 crore during the quarter.

Shares of Indian Hume Pipe Company advanced 2.01% to Rs 538.05 on Friday, 30 August 2024.

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First Published: Aug 31 2024 | 4:50 PM IST



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Indian Hume Pipe bags order worth Rs 859 cr

GPT Infra emerges as L-1 bidder for Rs 204-cr order

by | Aug 31, 2024 | Share Market


Last Updated : Aug 31 2024 | 3:50 PM IST

GPT Infraprojects on Friday announced that it has been declared as L1 (first lowest) by CAO Construction, South Eastern Railway, Kolkata for an aggregate value of Rs 204 crore.

The project includes construction of road over bridge (3 lane) with bridge proper and bridge approaches between Andul-Sankrail station and construction of road over bridge (2 lane) with bridge proper and bridge approaches between Nalpur-Bauria Stations of Howrah-Kharagpur section under the jurisdiction of Dy CE/Con/Garden Reach, S. E. Railway.

GPT Infraprojects is the flagship company of GPT Group and is a premier infrastructure company based out of Kolkata. The company operates through two business divisions infrastructure and sleepers. The company is engaged in the execution of civil and infrastructure projects, especially large bridges and ROBs for Railways. In sleepers, the company manufactures and supplies concrete sleeper for Railways in India and Africa.

The companys consolidated net profit increased 12.6% to Rs 17.54 crore on 0.8% rise in revenue from operations to Rs 236.22 crore in Q1 FY25 over Q1 FY24.

Shares of GPT Infraprojects slipped 1.09% to end at Rs 177.20 on Friday, 30 August 2024.

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First Published: Aug 31 2024 | 3:40 PM IST



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Indian Hume Pipe bags order worth Rs 859 cr

Emami to acquire remaining 49.6% stake in The Man Company

by | Aug 31, 2024 | Share Market


Last Updated : Aug 31 2024 | 3:16 PM IST

The Kolkata-based FMCG company announced the acquisition of the remaining 49.60% stake in Helios Lifestyle (Helios), which is well known for its grooming brand ‘The Man Company’, for a consideration of Rs 177.63 crore.

Emami said that it has entered into a binding agreement with Helios to acquire 100% ownership by acquiring the balance 49.60% stake. The company already owns a 50.40% stake in Helios. After acquiring the remaining stake, Helios will become a wholly owned subsidiary of the company.

Helios manufactures and sells male grooming products under the brand name The Man Company. It offers a head to toe range of grooming products for men which includes beard products, skin & hair care products, deodorant & perfumes, etc. It reported a turnover of Rs 183 crore in FY24.

This company added that this acquisition will strengthen its presence in the fast growing digital first premium male grooming segment.

The firm will acquire 1,33,572 equity shares, i.e. 49.60% stake, for a consideration of Rs 177.63 crore, The acquisition is expected to be completed in three months.

Harsha V Agarwal, vice chairman & MD, Emami, said, We had adopted the route of strategic investments in new-age startups very early to leverage online opportunities brought about by rapid digitalization to incubate new engines of growth. These strategic investments help us to have footprints in emerging segments that align with evolving consumer preferences. We will continue to explore more such opportunities for strategic investment that have synergies with our existing line of businesses.

Emami is one of Indias leading FMCG companies engaged in manufacturing & marketing of personal care & healthcare products. With over 450 diverse products, Emamis portfolio includes trusted power brands like Navratna, BoroPlus, Fair & Handsome, Zandu Balm, Mentho Plus and Kesh King.

The companys consolidated net profit gained 10.8% to Rs 152.64 crore in Q1 FY25 as against Rs 137.72 crore posted in Q1 FY24. Revenue from operations was at Rs 906.07 crore in Q1 FY25, up 9.7% year on year.

Shares of Emami added 0.01% to settle at Rs 813.25 on Friday, 30 August 2024.

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First Published: Aug 31 2024 | 3:03 PM IST



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Indian Hume Pipe bags order worth Rs 859 cr

Ecos (India) Mobility & Hospitality IPO ends with 64x subscription

by | Aug 31, 2024 | Share Market


Last Updated : Aug 31 2024 | 2:04 PM IST

The offer received bids for 80.96 crore shares as against 1.26 crore shares on offer.

The initial public offer (IPO) of Ecos (India) Mobility & Hospitality received 80,96,84,392 bids for shares as against 1,26,00,000 shares on offer. The issue was subscribed 64.26 times.

The Qualified Institutional Buyers (QIBs) category was subscribed 136.85 times. The Non Institutional Investors (NIIs) category was subscribed 71.23 times. The Retail Individual Investors (RIIs) category was subscribed 19.79 times.

The issue opened for bidding on 28 August 2024 and it closed on 30 August 2024. The price band of the IPO was fixed between Rs 318 to 334 per share.

The IPO comprised only an offer for sale (OFS) of up to 1.80 crore equity shares by the selling shareholders, comprising up to 99 lakh shares by Rajesh Loomba and up to 81 lakh shares by Aditya Loomba.

The post-issue promoter shareholding will reduce to 67.75% from 97.75% pre-IPO.

The proceeds from the offer will be received by the selling shareholders in proportion to the offered shares.

Ahead of the IPO, Ecos (India) Mobility & Hospitality on Tuesday, 27 August 2024, raised Rs 180.36 crore from anchor investors. The board allotted 54 lakh shares at Rs 334 each to 19 anchor investors

Ecos (India) Mobility & Hospitality Ecos (India) Mobility & Hospitality (ECOS) provides chauffeured car rentals (CCR) and employee transportation services (ETS).The CCR segment is a B2C business. The customers are companies, and the end consumer is an employee, client, guest or visitor of these corporate companies. Through its ETS segment, ECOS offers customers solutions to manage their employee home-office-home ground transportation.

ECOS has a pan-India presence in 109 cities. Vehicles and vendors are spread across 21 states and four Union Territories in India. Operations in 97 cities are through vendors.

The firm reported a net profit of Rs 62.53 crore and total income of Rs 554.41 crore for the twelve months ended on 31 March 2024.

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First Published: Aug 31 2024 | 1:52 PM IST



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Indian Hume Pipe bags order worth Rs 859 cr

Anup Engg inks pact with Graham to expand manufacturing and supply capabilities

by | Aug 31, 2024 | Share Market


Last Updated : Aug 31 2024 | 1:31 PM IST

The Anup Engineering and Graham Corporation (USA) have announced a strategic partnership through a manufacturing and supply agreement, for India and International business.

The agreement will enable the company to manufacture and supply a wide range of critical products for and on behalf of Graham Corporation for their global project solutions.

In an exchange filing, the company said, The Anup Engineering has entered into manufacturing and supply agreement to manufacture, supply and deliver products to Indian and overseas customers for and on behalf of Graham India and Graham Corporation (Graham USA) respectively.

Graham is a global business that designs, manufactures and sells critical equipment for the defense/space, energy and advanced energy and chemical/petrochemical industries.

Reginaldo D’Souza, MD & CEO of The Anup Engineering, said,” We are excited to combine our expertise and resources to deliver exceptional products and services to our customers. Grahams Engineering solutions coupled with our strong capabilities of Design & Manufacturing of process equipment, will provide significant business opportunities to both our companies. Our competitiveness will surely help gain more market share globally for these critical products. Our long-term vision is to be the preferred choice for process equipment solutions globally.

The Anup Engineering supplies process equipment to nearly all major projects in oil & gas, fertilizer, power, chemical & petrochemical sectors in India and worldwide.

The companys net profit jumped 29.4% to Rs 24.02 crore on 16.6% rise in net sales to Rs 145.99 crore in Q1 FY25 over Q1 FY24.

The scrip fell 0.52% to settle at Rs 2,202.95 on Friday, 30 August 2024.

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First Published: Aug 31 2024 | 1:08 PM IST



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Indian Hume Pipe bags order worth Rs 859 cr

Indian Hume Pipe Company receives LoI for irrigation project of Rs 858.88 cr

by | Aug 31, 2024 | Share Market


Last Updated : Aug 31 2024 | 1:04 PM IST

From Tapi Irrigation Development Corporation Jalgaon

Indian Hume Pipe Company has received Letter of Intent with order
value of Rs.858.88 crore (excluding Royalty, Insurance, GST, Land acquisition and crop compensation) from Tapi Irrigation Development Corporation Jalgaon (Dhule Irrigation Project Circle), Maharashtra for execution of work on Engineering, Procurement and Construction (EPC),
Trial, Testing, Commissioning of Gravity Piped Distribution Network to irrigate 26907 Ha. Command area of Jamphal Dam under Sulwade Jamphal Kanoli Lift Irrigation project Tal. Shindkheda, Dist.
Dhule including Operation and Maintenance of entire system for five years.

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First Published: Aug 31 2024 | 12:53 PM IST



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