Mumbai-based, Indian Hume Pipe is ready to set up three new pipe production plants at two locations for manufacturing pipes in Andhra Pradesh.

The company is proposing this move to meet the requirements of Orders on hand.

Indian Hume Pipe has selected Chillamuthur, in the Anantpur district for its first plant and the Karnool district for its second plant.

These two plants will entail a total amount of Rs 200 million for their construction.

Shares of Indian Hume Pipe Company settled at Rs 606, up 5.01 per cent on National Stock Exchange.