 "Isgec Heavy Engineering shares advance 12% on heavy volumes")
Shares of Isgec Heavy Engineering rallied 12 per cent to Rs 344 on the BSE in intra-day trade on Thursday on the back of heavy volumes.
At 01:23 pm, the stock was trading 10 per cent higher at Rs 337, as compared to 0.06 per cent rise in the S&P BSE Sensex. Around 655,000 equity shares, representing 0.88 per cent of total equity of the industrial machinery manufacturer, have changed hands on the BSE, so far. On an average 138,000 equity shares were traded daily in past two weeks, data shows.
In the month of December, the stock rallied 34 per cent, against 8 per cent rise in the S&P BSE Sensex. On December 17, Isgec Heavy Engineering announced that it has secured a new order valued at Rs 431 crore. The company said the said order is from KPR Sugar & Apparels Limited to set up a 10,000 TCD sulphurless sugar plant, 40 MW CoGeneration plant, 60 TPH incineration boiler and 7.5 MW power plant for zero liquid discharge system for client’s distillery plant on EPC basis.
Earlier, in a separate exchange filing, on December 12, the company announced that it has signed a technology license agreement with BHI FW Corporation of the United States (BHI FW) for combustion system modifications of tangentially fired boilers.
This license agreement will enable Isgec to utilize within India the proven foster wheeler technology for engineering, designing, manufacturing, supplying and erecting tangential low NOx (TLN) equipment in order to modify combustion systems of tangential fired boilers.
The company said there is increased interest for this technology by its clients in order to comply with the latest NOx emission norms as published by the Ministry of Environment, Forest and Climate Change in India.
Isgec manufactures among other process equipment, presses, iron & steel castings, and boiler pressure parts. Isgec’s portfolio includes turnkey projects for setting up air pollution control equipment, boilers, power plants, sugar plants, distilleries, factories, industrial water treatment facilities and material handling facilities.
At 01:23 pm, the stock was trading 10 per cent higher at Rs 337, as compared to 0.06 per cent rise in the S&P BSE Sensex. Around 655,000 equity shares, representing 0.88 per cent of total equity of the industrial machinery manufacturer, have changed hands on the BSE, so far. On an average 138,000 equity shares were traded daily in past two weeks, data shows.
In the month of December, the stock rallied 34 per cent, against 8 per cent rise in the S&P BSE Sensex. On December 17, Isgec Heavy Engineering announced that it has secured a new order valued at Rs 431 crore. The company said the said order is from KPR Sugar & Apparels Limited to set up a 10,000 TCD sulphurless sugar plant, 40 MW CoGeneration plant, 60 TPH incineration boiler and 7.5 MW power plant for zero liquid discharge system for client’s distillery plant on EPC basis.
Earlier, in a separate exchange filing, on December 12, the company announced that it has signed a technology license agreement with BHI FW Corporation of the United States (BHI FW) for combustion system modifications of tangentially fired boilers.
This license agreement will enable Isgec to utilize within India the proven foster wheeler technology for engineering, designing, manufacturing, supplying and erecting tangential low NOx (TLN) equipment in order to modify combustion systems of tangential fired boilers.
The company said there is increased interest for this technology by its clients in order to comply with the latest NOx emission norms as published by the Ministry of Environment, Forest and Climate Change in India.
Isgec manufactures among other process equipment, presses, iron & steel castings, and boiler pressure parts. Isgec’s portfolio includes turnkey projects for setting up air pollution control equipment, boilers, power plants, sugar plants, distilleries, factories, industrial water treatment facilities and material handling facilities.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%