Indian Hume Pipe announced that the board has suggested issue of bonus shares in the proportion of 1:1 i.e. one bonus share of Rs 2 each for every one equity share held by the members.
At 12:01 PM, Indian Hume Pipe share price was trading at Rs. 865.20 with the rise of 2.38 per cent. So far over ninety-one thousands shares had changed hands over the NSE trading counter today as compared to its twenty day trading volume average of sixty-four thousand.
The company occupied in cement and cement products business posted three-fold rise in net profit by 211 per cent at Rs 21.76 crore for the quarter ended September 30, 2016 (Q2FY17), on back of strong operational income. It had posted the profit of Rs 7.05 crore in a year ago quarter.
Indian Hume Pipe share price traded at the new lifetime high yet again today of Rs. 905 up by 7 per cent. The stock had traded at the new high on 24th October as well.
Total income from operations nearly doubled to Rs 451 crore against Rs 230 crore in the corresponding quarter of previous financial year, rising by 96 per cent. The company’s EBITDA increased 104 per cent to Rs. 48 crores and EBITDA margin was at 10.7 per cent.
Indian Hume Pipe is the multibagger recommendation by Dynamic Levels for the quarter. Since October 18, it rallied 36% after the company announced the bonus issue plan. The stock has yielded 31.16% return in one month. The standalone P/E ratio for the financial year 2015-16 stands at 70.35 while the standalone trailing P/E ratio is 32.36. The market cap of Indian Hume Pipe as on 27th October 2016 is 2047.14 crores. For the details on the support and resistance of Indian Hume Pipe, visit Indian Hume Pipe share price forecast page of Dynamic Levels website.
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