Madhya Pradesh Jal Nigam Maryadit cancels order given to Indian Hume Pipe Company Ltd
Indian Hume Pipe Company Ltd had earlier announced about the receipt of Letter of Acceptance from Madhya Pradesh Jal Nigam Maryadit for Kundaliya Multi Village Rural Water Supply Scheme District - Rajgarh, Madhya Pradesh for the Work Order of Rs.578.50 Crores secured by the Company including trial run and running and maintenance of the entire scheme for 10 years.
In furtherance of the above the company has received Cancellation of Letter of Acceptance from Madhya Pradesh Jal Nigam Maryadit intimating us that they have cancelled the aforesaid Letter of Acceptance in respect of Work Order of Rs.578.50 Crores due to discrepancies they have found in the bid process relating to the above mentioned tender on e-procurement portal.
Shares of INDIAN HUME PIPE CO.LTD. was last trading in BSE at Rs.305.45 as compared to the previous close of Rs. 317.5. The total number of shares traded during the day was 13500 in over 399 trades.
The stock hit an intraday high of Rs. 321.55 and intraday low of 304.2. The net turnover during the day was Rs. 4213372.