Thermax jumps over 4% on order win worth Rs 340 crore

Share price of Thermax added 4.3 percent intraday Monday as company won an order worth Rs 340 crore.

The company has concluded an order of Rs 340 crore from a leading Indian steel manufacturer for a specially designed boiler, electric turbo generators and ancillary equipment for their production facility in Maharashtra, India.

The specially designed boiler will use waste gases produced in the steel manufacturing process to generate high-pressure steam for power generation using high-efficiency reheat cycle.

The scope of work includes design, engineering, procurement, manufacturing, supply, installation and commissioning.

M.S. Unnikrishnan, MD & CEO of Thermax said, "Our proven expertise in providing solutions for waste heat recovery from industrial processes that help in optimising energy usage has led Thermax to win this repeat order from the customer."

At 10:00 hrs Thermax was quoting at Rs 1,060, up Rs 7.25, or 0.69 percent on the BSE.

The share touched its 52-week high Rs 1,375.00 and 52-week low Rs 835.05 on 09 January, 2018 and 26 September, 2017, respectively.

Currently, it is trading 22.91 percent below its 52-week high and 26.94 percent above its 52-week low.