Indian Hume Pipe makes lifetime high on bonus cues

Indian Hume Pipe share price has surged 20 per cent to reach a high of Rs 804, thereby breaching its 52 week high as well as its lifetime high of Rs 736.00 made on 4th October 2016 on NSE, after the company announced the board will meet on 26^th October 2016, to consider issue of bonus shares to existing shareholders. The 52 week low of the 270.00 made on 9th February 2016 and the lifetime low is Rs 2.16 made on 9th May 2001. The share price breached its upper circuit of Rs 803.85 this morning.

In a statement filed to both the stock exchanges by the company it said that the board of directors will consider the proposal for issue of bonus shares by the capitalization of free reserves at their meeting to be held on 26^th October, 2016, subject to the approval of shareholders.

Earlier on 4^th October 2016, the company had informed the Bombay Stock Exchange that the board will meet on 26^th October, to consider, the unaudited financial results for the 2nd quarter & 1st half-year ended 30^th September, 2016.

At 09:23 am, Indian Hume Pipe share price was up 14 per cent at Rs 765, as compared to 0.67 per cent rise. A total of 3,24,514 shares of the company have changed hands on the counter on the NSE so far aggregating to a total amount of Rs 2,523.23 lacs.

The market cap of the company as of now is Rs 1622.98 crore and the book value is 126.59. The Consolidated FY 15-16 PE Ratio is 0, Consolidated Trailing PE Ratio is 0, Standalone FY 15-16 PE Ratio is 55.77 and the Standalone Trailing PE Ratio is 33.27. The Promoter holding pledged is 0.

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