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Thermax share price rises 5% on order win worth Rs 830 crore

The share touched a 52-week high of Rs 1,895 and a 52-week low of Rs 830.60 on 17 November, 2021 and 23 November, 2020, respectively.

November 24, 2021 / 01:32 PM IST
 
 
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Thermax share price rose 5 percent intraday to Rs 1,784.90 on November 24 after the company bagged order worth Rs 830 crore for three flue gas desulphurisation systems.

"Thermax has concluded an order of Rs 830 crore from an Indian power private sector company to set up flue gas desulphurisation (FGD) systems for their three units of 660 MW capacity each in the state of Uttar Pradesh," company said in the release.

The FGD systems will be installed at their plant to cut down SOx emissions and comply with the air quality standards set for fossil fuel based power plants.

“Our proven technological capabilities in the area of air pollution and gaseous abatement, especially FGD, where we are already executing a few large orders, led to this competitive win," said Ashish Bhandari, MD & CEO, Thermax Limited.

"In addition to supporting the customer in meeting statutory compliance related to industrial pollution norms, the project reinforces our commitment to the environment,” he added.

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The scope of supply includes design, engineering, manufacturing, civil work, construction and commissioning of the FGD systems. The project is slated to be completed in 36 months.

At 12:04 hrs Thermax was quoting at Rs 1,756.45, up Rs 60.25, or 3.55 percent on the BSE.

The share touched a 52-week high of Rs 1,895 and a 52-week low of Rs 830.60 on 17 November, 2021 and 23 November, 2020, respectively.
Moneycontrol News
first published: Nov 24, 2021 01:32 pm

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